1. What is an appraisal?
A real estate appraisal is an unbiased, professional estimate of the fair market value of a particular property at a particular time, as made by an appraiser. The appraisal represents the fair market price a potential buyer would pay for the property in a competitive open market.

2.Why order your appraisal with Metro Valuation?
Metro Valuation has 15 Years experience in Residential Appraisal. Our appraisals are performed professionally and expeditiously. We only employ appraisers who have area expertise in your area. Our experience allows us to complete Certified appraisals that most major lenders accept, even in our current Real Estate Lending Market where lenders have added increasingly stringent guidelines, and increased reporting standards to all appraisals. Metro delivers you, the client, credible appraisals that meet lender and regulatory guidelines.

3.Turn-time… How long will it take to complete my appraisal?
Although there are often exceptions to the rule, if the appraiser does not experience any difficulties, (for example, limited sales in your area, resource information unavailable) our appraisers average a 2-3-business day turn-around-time after the date of inspection, for standard appraisal reports. For faster service, we have the option of servicing a 1-day turnaround for an additional fee in most areas.

4. When the appraisal is completed who has ownership of the report?
According to the statement within the USPAP, (Uniform Standards of Professional Appraisal Practice) on Appraisal Standards No. 9 (SMT-9), the person who engages the appraiser’s services are the client. The determining factor is not who pays for the appraisal, or how it is paid, but who contacted the appraiser in the first place and placed the appraisal order. This person is the client. In many, if not most cases, the homeowner pays for the appraisal either directly to the appraiser or indirectly through the lender, thus payment for services is not a determining factor. For example, an appraiser is contacted by a lender and asked to appraise a property for loan purposes and the homeowner pays the appraisal fee directly to the appraiser at the door on the date of inspection, it is the lender who is the client, not the homeowner and the appraiser cannot give a copy of the report to anyone without the lenders consent.

5. Who do I call with question once my appraisal is complete?
If your appraisal was ordered for Mortgage/Refinance purposes any questions about the completed appraisal:

Direct all questions to your Bank, Loan Officer, or Loan Processor. They will pose your questions or concerns directly to the appraiser who, after the property is inspected is not permitted to have Applicant/Borrower contact, because in this instance the Lending Institution is the appraisers client. (see numbers below in the LINKS page)

If you directly ordered as a Private appraisal for reasons other than Mortgage/Refinance: Contact Metro Valuation directly and speak to our operations Manager who will address your issues or questions directly.

Coming soon!