Home Appraisal Denver
Here at Denver Professional Appraisal, we pride ourselves on delivering the most accurate home valuations in the Denver Metro area. With fast turnaround times, we can provide you with a full appraisal report for your property while adhering to your time constraints. Our experienced, certified residential appraisers offer the best appraisal services in Denver, Douglas, Jefferson, and Arapahoe Counties with competitive appraisal fees. Contact us today to receive a free quote for your home appraisal.
What is a home appraisal?
A home appraisal is the determination of the fair-market-value of your house based on current market conditions. Part of the appraisal process is determining the scope-of-work for the property and utilizing the sales comparison analysis techniques to determine value. Appraisers compare your house to other, similar houses in the market that have recently sold. It is essential to note that the residential real estate appraisal process is considered more of an art-form than a science, and the appraisal process is more complicated than explained here. Each individual appraiser generally has his or her own style, and it is possible that they may come to different conclusions of value regarding your property. That’s why Denver Professional Appraisal utilizes years of knowledge and experience in the Denver area to ensure you get the most accurate valuation for your home. It is also important to understand that an appraisal is not the same as a listing price, though it can be helpful in determining a listing price for the sale of your home. Why do I need my home appraised? There are a variety of reasons why you might need your house appraised. Buying or selling is the most common circumstance. It is possible that the buyer and the seller both get third-party appraisals of the property in order to help determine a listing price, a purchase offer, or to agree upon a fair market value. Additionally, lenders require an appraisal from a licensed appraiser in order for a buyer to secure a mortgage. Lenders want to make sure that the house will sell for at least the amount that is being lent. Though buying and selling is the most common situation, there are numerous other reasons for a home appraisal, including: refinancing, divorce, estate settlement (probate), estate planning, bankruptcy, private mortgage insurance removal, and eminent domain. These are just a few reasons why you might need a home appraisal. Check out our services page for more information regarding these appraisal situations. |
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Residential Real Estate Appraisers
You can’t have just anyone perform an appraisal of your property. Certified residential appraisers are required to take and pass state regulated courses in order to be licensed. Appraisers are also required to accumulate a certain number of on-the-job experience hours before getting licensed. You are in good hands at Denver Professional Appraisal, as all of our appraisers are licensed with years of experience and in good standing. Additionally, an appraiser must be an objective, third-party with no connection what-so-ever to the subject property or to any persons involved in the transaction. We guarantee complete objectivity and a high degree of professionalism when it comes to the valuation of your property.
The Appraisal Report
A residential real estate appraisal report is based on the appraiser’s on-site inspection of the subject property as well as the analysis of comparable properties and the surrounding market area. These reports can be very detailed and include statements of factors that may hurt the overall value of the property, such as poor access, environmental hazards on or near the property, and poor location to name a few. The appraisal report will also provide an estimated average sales time based on current market conditions, and an explanation of the type of area where the subject property resides.
Real estate appraisals for single-family residential properties generally utilize two main methods to determine home value. In most situations, the sales comparison approach is used. Using this method, the appraiser compares the subject property to similar properties in the area that have sold recently. The second approach to value, the cost approach, is best used when valuing a property that has been built recently. The appraiser determines how much it would cost to replace the home if it were destroyed. Though the sales comparison approach is the most commonly utilized, we understand that each home appraisal is unique and we implement the best valuation approach to fit the situation.
The Valuation Process
The appraisal profession has been working toward a perfect process for estimating the value of real estate for over 50 years; which continues to improve as time goes on. The basic process that appraisers use to determine the value of your home is as follows:
You can’t have just anyone perform an appraisal of your property. Certified residential appraisers are required to take and pass state regulated courses in order to be licensed. Appraisers are also required to accumulate a certain number of on-the-job experience hours before getting licensed. You are in good hands at Denver Professional Appraisal, as all of our appraisers are licensed with years of experience and in good standing. Additionally, an appraiser must be an objective, third-party with no connection what-so-ever to the subject property or to any persons involved in the transaction. We guarantee complete objectivity and a high degree of professionalism when it comes to the valuation of your property.
The Appraisal Report
A residential real estate appraisal report is based on the appraiser’s on-site inspection of the subject property as well as the analysis of comparable properties and the surrounding market area. These reports can be very detailed and include statements of factors that may hurt the overall value of the property, such as poor access, environmental hazards on or near the property, and poor location to name a few. The appraisal report will also provide an estimated average sales time based on current market conditions, and an explanation of the type of area where the subject property resides.
Real estate appraisals for single-family residential properties generally utilize two main methods to determine home value. In most situations, the sales comparison approach is used. Using this method, the appraiser compares the subject property to similar properties in the area that have sold recently. The second approach to value, the cost approach, is best used when valuing a property that has been built recently. The appraiser determines how much it would cost to replace the home if it were destroyed. Though the sales comparison approach is the most commonly utilized, we understand that each home appraisal is unique and we implement the best valuation approach to fit the situation.
The Valuation Process
The appraisal profession has been working toward a perfect process for estimating the value of real estate for over 50 years; which continues to improve as time goes on. The basic process that appraisers use to determine the value of your home is as follows:
- Definition of the problem
- Determine the scope of work
- Data collection and property description
- Data analysis
- Land (site) value opinion
- Application of the approaches to value
- Reconciliation of value indications & final opinion of value
- Report of final opinion of value & conclusions
Residential Appraisal Service Areas
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Denver County
Denver |
Douglas County
Castle Rock Parker Highlands Ranch Lone Tree Castle Pines Larkspur Sedalia Franktown Roxborough Park Perry Park |
Jefferson County
Arvada Conifer Edgewater Evergreen Golden Lakewood Littleton Morrison Superior Westminster Wheat Ridge |
Arapahoe County
Aurora Centennial Cherry Hills Village Columbine Englewood Glendale Greenwood Village Littleton Sheridan |
CALL FOR A FREE APPRAISAL QUOTE
720-575-3293
720-575-3293