The Inspection

Every appraisal begins with a property inspection. During this process, the appraiser examines the home to verify its physical characteristics, including the number of rooms, layout, location, and overall condition. Measurements are often taken to confirm square footage, and a sketch may be created to document the property’s layout.

The appraiser also looks for features or defects that could influence the property’s value.

After the inspection, the appraiser analyzes the property using recognized valuation methods, typically including the sales comparison approach, the cost approach, and—when applicable for rental properties—the income approach to determine an accurate estimate of market value.