Real Estate Appraisal Form

Real Estate Appraisal Form

What Is a Real Estate Appraisal Form?

A Real Estate Appraisal Form is a legal document that provides information about the value of a real estate property. The purpose of the document is to determine the appraisal of a certain piece of real estate. The form is prepared by a professional real estate appraiser and can be used in various situations when a property owner needs to verify the worth of their house, flat, premises, land, etc.

There are different types of appraisals:

  1. Residential Real Estate Appraisal . This type of appraisal is commonly used when a property owner would like to sell their apartment (or any other residential property) and need to find out its cost.
  2. Commercial Real Estate Appraisal . Here an appraiser is supposed to conclude the price of commercial property for various reasons, such as tax assessments, auction proceedings, mortgage lending, etc.

A printable Real Estate Appraisal template can be downloaded through the link below.


How to Make a Real Estate Appraisal Report?

A Real Estate Appraisal is supposed to result in a report, in which a property owner will find thorough research on their piece of property. To make this report an appraiser should conduct a detailed examination of the property and gather all of the information about it. The report can contain the following parts:

  1. Title Page . On the first page of the report, the appraiser is supposed to designate the title of the document, the name of the property owner, the address of the property, and brief information about the appraiser themselves (their name, address, the company where they work, and their contact information).
  2. Introduction . The introduction is usually presented in the form of a letter, where the appraiser states the reason for the appraisal, the key moments of the research, and the conclusion they came to.
  3. The Report . This part of the document contains all of the information about the conducted research, starting from the table of content, where all parts of the examinations are systematized. It can include data about the property, area description, information about site and improvement, and the analysis itself.
  4. Conclusion . Here the appraiser states the main aspects of the research, conclusions, and brief information on how they came to these conclusions.
  5. Attachments . The last part of the document usually consists of different types of attachments, such as documents proving the appraiser's credentials, property plans, location maps, photographs of the interior and exterior of the property, etc.

The cost of a Real Estate Appraisal depends on a lot of factors and can vary from state to state. Each professional real estate appraiser is independent in stating the price for their services, which is based on their skills, knowledge, experience, and quality of their work. The cost will also depend on the amount of work the appraiser is supposed to do (how large the piece of property is they are supposed to examine), and the time period in which the client is expecting the work to be done.

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