An appraisal, or property valuation, is a professional assessment that determines the actual value of a home in the current market. This process is carried out by a certified, independent appraiser, who analyzes factors such as location, size, physical condition, improvements made, and sale prices of similar properties in the area.
The purpose of an appraisal is to ensure that all parties involved whether buyers, sellers, lenders, or attorneys have a fair and objective reference for the value of the property. In mortgage transactions, for example, the appraisal allows the lender to ensure that the loan amount does not exceed the actual value of the property.
Beyond loans, an appraisal is also useful in situations such as inheritances, divorces, private sales, or estate evaluations, offering transparency and confidence in decision-making.
At Top Flight Appraisals, each report is developed with precision, ethics, and full compliance with USPAP standards, ensuring clear and defensible results for any real estate purpose.
