Frequently Asked Questions

Each appraisal assignment is different with the average time to complete an appraisal 5-6 business days.

An appraisal is an opinion with the result based upon the level of experience and appraisal ability. (you don’t get any assurances)

PMI is mortgage insurance. Some lenders require it if the down payment on a home is less than standard (20%). FYI mortgages often carry PMI. Typically, your lender will have specific guidelines to follow in the elimination of PMI.

A CMA is done by a realtor. They have a vested interest in selling your home. An appraiser is much more experienced in estimating values and typically has seen many more properties than a realtor. It’s very surprising to me to hear how some realtors arrive at estimated asking prices. An appraisal is based upon like properties to have recently sold and or are currently for sale. The key word is like properties.

An appraisal is based on the type of style home and the purpose of the appraisal. It’s one of the most important items for an appraiser to determine the scope of the appraisal and the correct way in which the property is to be appraised.

In general, an appraiser's value is typically accurate for around 90 days. After 90 days there are market conditions that impact real estate values and specific properties (summer/vacation homes for example).

We belong to the Rhode Island Multiple Listing Service – which lists most properties for sale.

An appraisal is completed for a client and the client is the user of the report with the report having a one-time use. A new assignment is created If the scope of the assignment changes or the user changes.

How much experience do you have in appraising this type of home in this market?

Yes, an appraisal plays a crucial role in determining the fair market value of a property during divorce proceedings. It provides an objective assessment of the property's worth, aiding in the equitable division of assets.

A real estate appraisal is vital in establishing the value of trust assets, especially real estate properties. It provides an unbiased assessment of property value, helping trustees fulfill their fiduciary duties and make informed decisions regarding trust management.

A professional real estate appraisal provides strong evidence for your tax assessment appeal. It assesses the accurate market value of your property, helping you demonstrate an overvaluation and potentially lower your property tax burden.

A flood zone appraisal is crucial for properties located in flood-prone areas as it assesses the property's vulnerability to flooding. It provides valuable information about flood risks, mitigation measures, and impacts on property value, helping property owners and stakeholders make informed decisions.

We make it easy to reach our real estate appraisal team. You can contact us by phone at (401) 667-0552, or you can fill out the contact form on our website. Our friendly team will promptly respond to your inquiries and provide the assistance you need.