What does an appraisal cost?
The cost of an appraisal depends upon the property and the purpose of the appraisal. No two houses are alike and no two appraisals are alike. Appraisals for mortgage lending are very different from appraisal reports written for individuals or appraisal reports that might be utilized in court cases or divorce proceedings. Appraisal fees are quoted on an individual case basis. Contact us with the property address and the purpose of the appraisal and we will be happy to provide a fee quote.
How do I prepare for an appraisal?
Most residential appraisals for mortgage lending require interior inspections of the property. We will contact the property owner to schedule an appointment to inspect the property at a mutually convenient time. During an appraisal "inspection" the appraiser walks around the outside of the property and thru the inside of the house taking notes, measurements and photographs.
Appraisers are people too! While we understand clutter, toys scattered about, dishes in the sink and laundry on the floor; all rooms of the house including the basement must be accessible. The interior of garages, barns and outbuildings also need to be observed.
The appraiser can obtain some information on the property from the Assessor and the County Courthouse. If you have a survey, blueprints, a written agreement on shared driveways or access easements as well as information regarding the location of the well and septic system (if applicable) try to have copies of these documents available for the appraiser. A list of any improvements or repairs that have been made to the property in recent years can also be very helpful.
Appraisers are not home inspectors. An appraisal estimates the value of the property based upon its perceived condition, as observed by the appraiser. The appraiser will note any obvious problems with the property in the appraisal report, but if you want a detailed, thorough inspection of the property and its components, a qualified professional home inspector should be consulted. Home inspectors can evaluate the structure, and the condition of the roof, plumbing, heating, electrical and mechanical systems of a house which are outside an appraiser's field of expertise.
How long does an appraisal take?
Most appraisal reports can be completed within 2 to 3 days after inspection. Extra large homes, unusual properties or complex assignments may require a little more time.
Why should I choose Russell Appraisal Service?
Jennifer Russell is an experienced, ethical real estate appraiser that has been appraising property in east-central Indiana for more than 30 years. At Russell Appraisal Service, we strive to provide our clients with prompt, professional valuation services. By limiting our coverage area to just Wayne and Fayette Counties, we can stay on top of trends and developments in the local markets. We provide great attention to detail and offer excellent customer service with reasonable fees and turn times.
We would appreciate the opportunity to earn your business!