Common Appraisal Questions
Q1. How long does an appraisal take?
An appraisal typically takes between a few days and a few weeks, depending on the property’s complexity, data availability, and the scope of the report. Unique or specialized properties may take months. That said, we will quote a turnaround time based upon our availability, as opposed the hours the assignment will take.
Q2. Why can’t you give me a value over the phone?
Providing a value without a full analysis would be misleading and non‑compliant with professional standards. A defensible appraisal requires research, inspection, and reconciliation of multiple approaches to value.
Q3. What’s the difference between market value and assessed value?
Market value reflects what a willing buyer and seller would agree upon in an open market. Assessed value is determined by the county assessor for property tax purposes and may not reflect current market conditions.
Q4. Why do appraisal fees vary?
Fees depend on five main drivers: purpose for the appraisal, property complexity, data availability, report format, and turnaround time. A simple office building with abundant sales data will cost less to appraise than a ski resort with multiple income streams.
Q5. What is “Highest & Best Use” and why does it matter?
Highest & Best Use is the most profitable, legal, and feasible use of a property. It sets the foundation for valuation by ensuring the appraisal reflects not just the current use, but the most appropriate use supported by market evidence.
Q6. Do you perform cost segregation studies?
No. We provide the appraisal foundation that separates land from improvements, which CPAs and tax advisors then use in their cost segregation analysis. This ensures the valuation side is defensible and IRS‑compliant.
Q7. Why don’t you provide “comp checks”?
Comp checks (or “value checks”) are misleading because they imply a value opinion without proper analysis. They violate USPAP standards and can expose clients to risk. Instead, we provide full, defensible appraisals that hold up under scrutiny.