Did you know that there is no such thing as a certified appraisal?
There is no standard step-by-step, paint-by-numbers way of appraising. That's why you need a good appraiser, not a cheap one. Federally backed lenders have many rules that their appraisers have to follow. I do not adhere to these rules, which are for properties a bank is considering financing. The bank is deciding whether or not to take a risk on a property, and will do so if the appraisal can be done a certain way, using certain comparable sales, adjusting a certain way, etc. That’s not what I’m doing. I’m determining what a property would sell for as of a certain date, whether or not it is incapable of being financed (often due to condition). I adhere to the Uniform Standards of Professional Appraisal Practice as put out by The Appraisal Foundation and Appraisal Standards Board. This is the gold standard for appraisers in the United States. Here are some things that people present as fact that are NOT in USPAP: The appraisal report has to be on a certain form ...