The Appraiser begins the research.
At this point the appraiser will be reviewing recent sales of comparable properties and researching nearby recent closed sales of similar size, quality, condition and appeal. The report will include a minimum of three closed sales and may include an active or pending listings to provide additional support. The appraisal report will have a street map showing the appraised property and comparable sales used, a sketch of the property showing the room configurations, bedroom and bathroom count and the above grade square footage / gross living area of the property. The report will include photographs of the home’s front, back and street scene. The report will include front exterior photos and the market sales data for each comparable property. The appraisal report will have the appraiser’s final opinion of market value.