Metrocal Appraisal - Appraisal Process and Valuation Services

Appraisal Process and Valuation Services

In this section we focus our discussion on explaining what an appraisal or valuation service is, what the role of an appraiser or valuation consultant is, and we discuss the regulatory and licensing standards Metrocal Appraisal meets and exceeds.

What is an appraisal?

An appraisal is the process of developing an opinion of value.  Metrocal Appraisal specializes in providing appraisals for legal interests of real property.  Examples of real property include the legal interests (rights) that are associated with the ownership of a home, a commercial property or a vacant parcel of land.

Separate from the appraisal development process but essential to the process is completing the appraisal report.  The appraisal report is designed to communicate to the intended user the rationale and analysis used in developing the appraisal and to state the final opinion of value in a manner that allows the intended user to understand how the final opinion is supported by the analysis.

What is a licensed appraiser?

In California, individuals who meet a minimum level of general and specialized education requirements, who pass a criminal background investigation, and successfully pass an examination are issued an appraiser license by the state.  Although in some cases appraisals can be completed by non-licensed persons, if one is licensed and is acting as an appraiser, one must comply with all state requirements.  The document which sets the minimum standards for ethical and professional behavior of licensed appraisers is the Uniform Standards of Professional Appraisal Practice (USPAP).  All appraisers affiliated with Metrocal Appraisal are licensed by the State of California.

What is the advantage of using Metrocal for appraisal products and services?

Metrocal Appraisal has the following advantages:

  • We are required to be unbiased and independent in our valuation process.  Unlike some other valuation service-providers, we have no other interest that might conflict with our objective of providing market-supported valuations.
  • Our reports must be credible and, as a consequence, our value conclusions are persuasive.
  • We have significant expertise in the geographic area we cover.
  • We have wide-experience in valuing different property types.
  • We are committed to providing our clients with the type of product and service which best meets their needs and best addresses the complexity of the problem, the intended use of the results, and time and budget constraints.

How much does your service cost?

The cost of Metrocal Appraisal’s products is directly related to the complexity of the assignment, the intended use of results/appraisal, and the type of analysis that must be completed.  For example, a basic single-family home for estate valuation purposes may cost $400 to $500.  However, the same property involved in litigation could require a more detailed analysis and, as a consequence, would require an appraisal product that was more in-depth than a simple estate valuation.  Conversely, in some cases, because of the intended use and type of valuation required, the work may be minimal and the cost could be less than $400.

We are happy to discuss with you your specific needs and make a recommendation of what type/level of service would best solve the valuation issue.  In some cases, multiple options may exist; if so, we will work with you to determine which best satisfies your needs.  Please contact us for a free consultation on your situation.

What is an “Appraisal Consulting” service?

An appraisal consulting service includes an appraisal (we provide our opinion of value) but also includes a recommendation based on that value.  Appraisal consulting is useful when there are multiple scenarios under consideration.  For example, a client may own an existing home and is considering three different levels of renovation on the property (interior remodel, significant addition, or tear-down and rebuild); an appraisal consulting assignment would address the different costs and values of each three scenarios and make a recommendation based on which scenario represented the maximum return on investment.  Another example would be a feasibility study on a commercial lot to determine the most profitable development strategies.  Again, valuation is part of the assignment but a recommendation as to “what action to take” is the significant difference between an appraisal and appraisal consulting service.  Metrocal Appraisal will work with you to determine what type of product provides the best solution to your situation.

What if I’m not sure of exactly what I need?

Call us and we will assist you in determining if one of our products can provide a solution to your situation.

And, if we do not think our services can help you, we will tell you why that is the case.  Metrocal Appraisal’s mission statement is to provide our clients with “meaningful analysis and solutions for their real estate valuation and investment decision-making needs.”   If we do not believe our products will provide you with a meaningful solution, we will not recommend going forward.  If we think another type of service-provider can better serve your interests, we will make that recommendation.

 

We look forward to discussing your specific situation with you at no obligation.  Please contact us by following this link.

 

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