Frequently Asked Questions

What is an appraisal?

An appraisal is the process of developing an opinion of value of real property. An appraisal usually comes in the form of a report, but the contents of the report can vary based on the type of appraisal requested.

    Generally, appraisal reports include:

  • photographs of exterior and interior of the property
  • measurement of square footage of the home following ANSI national standards
  • list of at least 3 comparable closed sales in similar market
  • appraiser notes on condition of property
  • neighborhood analysis
  • appraiser opinion of value, including explanation of market adjustments

How do appraisers determine the opinion of value?

The process begins with visiting and measuring the home, then researching similar properties in the same or similar market with comparable features and square footage. Appraisers use, at minimum, three closed sales, then adjust the sales prices accordingly to find a supported value from the subject's market. Appraisers can include active listings in a report, but greatest support is determined through recent closed sales.

What type of appraisal services do you complete?

Our office can complete appraisals for residential real estate only. We do not appraise commercial property or personal property. Our clients include lenders and banks for mortgage transactions, individuals or real estate agents preparing to list a home for sale, individuals who need a valuation for estate or divorce purposes, and those preparing a tax protest, among others. Bowden Appraisal specializes in single family residences, condos, vacant land, multi-family homes, manufactured homes, high-value or custom homes, complex or unique properties, and farm and ranch.

How much will an appraisal cost?

Prices vary depending on the purpose of the appraisal, the location, and the complexity of the property. Please contact our office for a quote specific to your needs.

Does the appraiser come into the home?

Yes, unless otherwise ordered by the client as an exterior only report. The appraiser will set up an appointment to visit the home. On that date, the appraiser will begin by measuring and photographing the outside of the home. Inside of the home, the appraiser will map out the floor plan, note interior features/condition, and take interior photos. The photos of the home are for in-office purposes only, and will not be published or seen by anyone except the appraiser and the client.

Do I need to be home when the appraiser comes?

No, as long as the appraiser has adequate access to the property.

How long does the appraisal process take?

The entire appraisal process usually ranges from 5-9 days from the date of engagement. The appraisal inspection at the subject site can take 20-90 minutes, depending on the size and complexity of the property.

Who will be able to see my appraisal information?

The engaging party for the appraisal is our client. We do not share the report with anyone else unless the client expressly gives their permission.

Do the appraisers work on the weekends?

Appraisers typically work Monday through Friday. We do occasionally schedule some weekend appointments at the request of clients who cannot meet or make other arrangements to let the appraiser in during the week.

What improvements add the most value to a home?

Improvements and their contribution to overall value in your home vary from market to market. There is no rule of thumb for "most value added" improvements. Please contact our office for a consultation and appraisal specific to your needs.

My house has been on the market for several months now and has not sold. Should I hire an appraiser?

Yes. An appraisal is a detailed, unbiased opinion of market value based on up-to-date neighborhood market trends. Each appraisal comes with a full consultation regarding your specific improvements and how your property competes in your neighborhood. This information empowers the seller to make the best possible decision about their property.