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County Property Appraiser

Why do I need an appraisal?

For many families, a home is the single biggest investment they will make. You can be assured your Appraisal from FLORIDA CERTIFIED APPRAISERS, INC. will be an exhaustive study in valuation of your most cherished asset…your home. The most common need for a residential appraisal is for the purchase, sale, or refinance of a specific piece of real estate. In addition, market conditions can change quite frequently so a lender will require an appraisal to determine the value of your property as it stands today before issuing the financing. Your Bank, Credit Union, Mortgage Company, or other type of Lender can typically lend as much as 75% to 100% of the appraised (market value) of the subject property. There are numerous other needs for an appraisal including; divorce, estate, foreclosure, insurance, pre-sale, tax appeals, PMI removal, and various other reasons.

How long will the appraiser be at the subject property?

The actual inspection of the subject property is only a small part of the appraisal process. The appraiser will normally contact the owner, builder and or Realtor prior to inspecting the subject property to obtain as much background information as possible. Prior to doing the inspection the appraiser typically checks the tax and assessment records, MLS, and other sources and reviews recent sales in the neighborhood or subdivision. During the inspection process, the appraiser will normally walk through the interior of the subject property making notes on custom features and upgrades, as well as, any obvious defects or deficiencies. The appraiser will typically measure the exterior of the dwelling, make a sketch and note any obvious exterior deficiencies that may adversely affect market value or marketability. The actual length of time needed for an onsite inspection can vary greatly, depending on the size, style, age, and condition of the property.

Who pays for the service of the Appraisal?

It depends on who has been designated to pay the fee at the time the appraisal is ordered. The appraisal fee is generally paid by the home buyer (if the appraisal is for a sale) as a part of their closing costs. If the assignment is ordered by an individual property owner/client the fee is generally paid in advance or at the time of the appraiser's physical inspection of the property being appraised. If the assignment is ordered by the lender/client, then the client may direct the appraiser to collect the fee from the borrower or may elect to pay the fee directly upon delivery of the completed report. It is the appraiser that ultimately determines the terms and conditions for payment, and how or when to extend credit. The client, property owner or lender, should realize that the extension of credit is not mandatory. If you are working with a lender they will make arrangements for the appraisal. Depending on the lender the appraisal may be paid in advance or incorporated into an application fee, some are COD, which means the buyer will pay for the service at the time of the appraisal. It is a violation of the Uniform Standards of Professional Appraisal Practice (USPAP) to condition the payment of appraisal fees upon a certain value. This is a clear and definite violation of appraisal standards.

What will the appraiser look for when the appraisal is done

The appraiser will consider components that influence value such as condition, quality, amenities, materials, repairs, layout, and utility. The appraiser is trained to value the real estate and not be affected by housekeeping or the quality or condition of furnishings.

Who is the appraisal client

Identification of the client is important and can determine who "owns" the appraisal report. The client is the one who orders the appraisal, not necessarily the one who pays for the appraisal. Regardless of who pays for the report, the client is the person or entity ordering the report.

When an appraisal is ordered by the client the appraiser owes allegiance to the client and a confidential relationship is created. Under provisions of the Uniform Standards of Professional Appraisal Practice (USPAP) the client is the person or entity that orders the property appraisal.

All copies of the completed appraisal report are forwarded to the client and all information contained in the report is considered confidential between the appraiser and the client. This relationship does not consider when the appraisal fee is paid or who pays for the appraisal.