Understanding the appraisal process can help maximize the appraised property value and avoid costly details and re-inspections. The following steps are typically followed by appraisers.

• Research the subject property as to year built, bedrooms, baths, lot size and square footage.
• Compare data of recent sales in the subject's neighborhood, typically within a one mile radius. The appraiser usually locates at least three and preferably more similar homes that have sold within the past 6 months. These homes are considered the "Comparable Properties" or "Comps" for short.
• Field inspection is conducted in two parts: (1) the inspection of the subject property, and (2) the exterior inspection of the comparable properties.

The subject property inspection includes taking photos of the front and rear of the home, that may include portions of the yard, and also taking photos of the street scene. The appraiser also makes an interior inspection for features and conditions which may detract from or add to the value of the home. A floor plan of the home is drawn and included while doing the inspection.

The comparable properties inspection is limited to the exterior inspections. For features that cannot be seen from the street, the appraiser has reports from various sources such as Multiple Listing Services (MLS), market data services, county public records and appraisal records to help determine the condition and amenities of the comparable. The appraiser then goes through a reconciliation process with the comparable properties to determine a final estimated value.

Photographing the street scene gives the lender an idea as to the type of neighborhood in which the home is located. The photo of the front of the home gives the lender an idea of its condition and its curb appeal. And lastly, a photo of the back of the home and part of the rear yard is taken. Many homeowners do not take care of the rear portion of their home and back yards, so for this reason the rear photo is required.

An appraiser should call in advance to set up the appointment for inspection. At that time, any pertinent information about the home should be supplied, as the more that is known about the property prior to the inspection, the better the appraiser can focus on researching the comparables.

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