From the property to the report
The visit is only part of the job.
The visit documents the home. Market research and analysis explain what those observations mean for its value.
Understand the assignment
The appraiser establishes the property, the intended use of the report and the date the value should reflect. A value needed for an estate may relate to a past date rather than today.
Study the property
In Allentown, that may mean a rowhouse, twin or detached home, including homes in Old Allentown, Old Fairgrounds or West Park. Age and neighborhood context belong in the property study.
When an interior visit is part of the assignment, the appraiser observes the layout, size, condition and improvements, using measurements, notes and photographs to document the home.
Research the market
The appraiser studies comparable sales and available property records. Differences in location, size, condition and features matter: a nearby sale is not automatically a close match.
Explain the value
The appraiser weighs the evidence and prepares a report explaining how the value opinion was reached.
What should the report tell you?
A report explains the property being appraised, the purpose and effective date of the value, the evidence considered and the reasoning behind the conclusion. Depending on the assignment, it may include property photographs, measurements, comparable sales and discussion of other valuation approaches.
The date belongs with the number.
A home’s value at an earlier date can differ from its value today. If an attorney or tax adviser has requested the appraisal, share their instructions before the work begins.
One home. Different reasons for a value.
An executor may need a value tied to an estate. A homeowner going through a divorce may need a report for property division. A family considering a sale or transfer may need help understanding the home’s market value.
Tell the appraiser who will use the report and what decision it will support. That conversation helps define the work before anyone schedules a visit.
You don’t need every answer before you call.
For an Allentown property, these details are a useful place to start:
- The property address and the type of home.
- Why you need a value and who will rely on the report.
- The valuation date, if your attorney, adviser or lender has specified one.
- Any deadline and how access to the home can be arranged.
Share any instructions from your attorney or adviser. Confirm the scope, fee and availability before agreeing to the work.
A few common questions
Is an appraisal the same as a home inspection?
No. An appraisal develops an opinion of value. A home inspection focuses on the condition of the home and its systems. Observing condition for an appraisal does not replace a separate home inspection.
Does the appraiser set the selling price?
The appraiser provides a value opinion supported by evidence. A seller decides the asking price; buyers decide what they are willing to offer.
Can an appraisal tell us what a home was worth in the past?
An assignment can address a past effective date. Explain the date and purpose when you request the appraisal so the appraiser can discuss the research and scope needed.
Should I order my own appraisal for a mortgage?
Ask your lender about its ordering process before paying for a report. A privately ordered appraisal may not meet the lender’s requirements.