Residential Real Estate Appraisal Process
When you order an appraisal through Friend & Associates, you will be promptly provided with a service quote and request to schedule an appointment with one of our professional appraisers. The appraiser will personally view the property, take into consideration locational influences, and make note of the condition, quality, and relevant characteristics.
After the property viewing the appraiser gathers and analyzes data researched and obtained from the local real estate board, the MLS data service, public records, land registry, and our own files.
An appraisal report is completed in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) and includes a cost approach analysis and a sales comparison approach analysis. An income approach analysis is used if the property is income producing or multi-unit.