APPRAISALS 101

 

 

Appraisal Services of Lake Livingston 

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Mary Burnette/Office Manager

POB 1554 ~  Livingston, Tx. 77351
936-967-5450 Phone ~  Fax -call
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Appraisal 101 Continued

What to expect when your home is being appraised.

First, we will do a careful physical inspection of your home. Don't worry about the kids, toys or household disorder. We are looking at the structure, condition and features of your home. This is only the beginning of the appraisal process. The typical report requires 12 1/2 combined hours by appraiser and staff to complete.

Second, for the next several hours you may see our appraiser driving up and down the streets of your neighborhood.

We will be searching your neighborhood for homes that are similar to yours in location, size, design, number of rooms and extra features. We call these homes "Comps" or "Comparable Sales." Our appraiser makes dollar adjustments to reflect differences in "Comp" properties. Upgrades like fireplaces, air conditioners, recent decorating or home improvements add value to a property.

Finally, we are ready to prepare our report and submit it to your loan officer. At that time, your mortgage company will be contacting you with the results.

Our appraisers are friendly, courteous and interested in providing any information you may need. Ethically, we have a client relationship with your lender. All of our communication must go through your loan officer. However, feel free to ask questions while we are in your home.

Traditional Appraisal Products

Qualitative Analysis Appraisal Report FNMA 2065

Condition and Marketability Report FHLMC 2070

Property Inspection Report FNMA 2075

Quantitative Analysis Appraisal Report FNMA 2055 Exterior/Interior

Uniform Residential Appraisal Report (URAR) FNMA 1004

Multi-Family Appraisal FNMA 1025

Co-op Appraisal FNMA 1075

Condo Appraisal FNMA 1073

FHA Appraisal

Supplemental REO Appraisal Addendum

Land Only Appraisal

Plans/Specs Appraisal

Reinspection/Satisfactory Completion Report FNMA 442