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appraisal checklist

1. Pre-Appraisal Preparation

Verify property ownership and legal description.

Gather previous appraisal reports and property history.

Collect relevant market data and trends.

Review property tax assessments.

Ensure compliance with local regulations and zoning laws.

2. Property Inspection

Schedule a site visit with the property owner or representative.

Document property condition, including structural and aesthetic aspects.

Measure the property dimensions and layout.

Take photographs of interior and exterior features.

Note any unique or exceptional characteristics.

3. Data Collection

Compile information on comparable properties (comps) in the area.

Gather recent sales data and listing information.

Collect data on current market conditions and economic factors.

Obtain details on property amenities and features.

4. Valuation Methods

Select appropriate appraisal methods (e.g., cost approach, sales comparison approach, income approach).

Perform calculations for each valuation method.

Analyze the data and compare results from different approaches.

5. Report Writing

Organize appraisal findings and conclusions into a clear format.

Include an executive summary with key findings.

Provide detailed descriptions of the property and its valuation.

Attach relevant supporting documents and data.

6. Review and Quality Control

Conduct a thorough review of the appraisal report for accuracy.

Ensure compliance with professional standards and guidelines.

Verify calculations and data used in the appraisal.

Obtain peer review or supervisory approval if necessary.

7. Finalization and Delivery

Prepare the final appraisal report for delivery.

Choose the appropriate format for submission (digital, print, etc.).

Deliver the appraisal report to the client or relevant parties.

Ensure proper documentation of the transaction and communication.

8. Follow-Up

Schedule a follow-up meeting with the client to discuss the appraisal.

Address any questions or concerns raised by the client.

Maintain a record of feedback for future improvements.

Update internal databases with appraisal findings for future reference.

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