Aurora Real Estate Appraisal Service

CLIENT INQUIRY 

The process begins with a client inquiry, where the property owner or interested party contacts the appraiser. During this stage, the scope of the appraisal is defined, including the purpose of the appraisal (e.g., sale, mortgage, estate planning), property details, and any specific requirements

DATA COLLECTION

The appraiser schedules a property inspection to gather essential data. This involves physically examining the property, measuring its dimensions, taking photographs, and noting its features, condition, and any improvements. The appraiser also assesses the surrounding neighborhood and factors that may influence value

COMPARABLES SELECTION

The appraiser conducts a thorough market analysis, researching recent sales of similar properties (comparables) in the vicinity. These comparables are selected based on factors like size, location, condition, and amenities. The appraiser evaluates how these properties align with the subject property

VALUATION 

AND ANALYSIS

The appraiser employs three primary valuation approaches: the Sales Comparison Approach, the Cost Approach, and the Income Approach (if applicable). The Sales Comparison Approach is most common, where the appraiser compares the subject property's features to those of the comparables to derive an estimated value

REPORT PREPARATION

Based on the analysis, the appraiser compiles a comprehensive appraisal report. This report includes property details, comparables, the chosen valuation approach, adjustments made, and a final estimated value. It also explains the reasoning behind the value conclusion and provides context for the client.

SUBMISSION

Before finalizing the report, the appraiser reviews the findings and ensures accuracy. Once complete, the appraisal report is submitted to the client, whether it's the property owner, lender, attorney, or other involved parties. The report is a critical tool for making informed decisions regarding the property