Frequently Asked Questions
- What appraisal report should I order?
- Ask the lender on the appropriate form.
- What is a full appraisal?
- A full appraisal is done on a fannie-mae form 1004 which is a more detail appraisal report with more information on the property and would require us to inspect the property, provide a sketch of the property and perhaps some interior photo as well.
- What is a drive-by appraisal?
- A drive-by appraisal is done on a fannie-mae form 2055 which is a shorter appraisal form. If it's an interior drive-by, we would need to inspect the property and to provide a sketch of the property. If it's an exterior drive-by, no inspection of the property or a sketch is needed.
- How long does it take to do an appraisal?
- We are committed to get you the appraisal report as soon as possible. Our turn-over time is 2 - 3 days after the inspection of the property. The report will be email to you in a PDF format.
- How can I check on the status of my order?
- Please call or email us on the status of your order.
- Why does my appraisal report come back with a lower value than the house down the street?
- For most SFR, appraisers utilize the market comparison approach to estimate the market value of the property. In this approach, similar properties are taken, compared, an adjusted for differences in various factors such as the size, condition, location, or upgrades. In the end, it is highly possible that two properties on the same street may have a very different market value based on these differences.
- How much do you charge for an appraisal?
- Our fee depends on the assignment and the requirements.