Ask who prepares the value opinion
Request the provider’s name, role and relevant qualifications. Ask whether the person is independent of the purchase decision and whether you will receive a written report. These questions help you understand the purpose and limitations of the work. If a lender, attorney or estate professional needs a particular type of appraisal, ask that professional what is acceptable before arranging a service.
Understand what information is included
Ask whether the review includes an interior visit, the home’s condition, property records and comparable sales. Identify anything the provider has not inspected or verified. Keep records of recent work available, but distinguish improvements from approvals and permits. Understanding the inputs is more useful than focusing only on one number at the end.
Separate valuation from the purchase terms
A value opinion does not by itself commit someone to buy the house. A buyer’s written offer has its own price, conditions and schedule. The CFPB’s appraisal guidance concerns the role of valuations in mortgage transactions; a homeowner should ask how a proposed service is intended to be used in their situation. Compare the written offer on its own terms even when a valuation is also provided.
Confirm the service before relying on it
Ask what is free, what deliverable you receive and whether the service carries any obligation to proceed. Confirm the expected timing and any access needed. If you need a report for litigation, taxes, probate or financing, have the relevant professional verify that the proposed service is suitable. Getting these points clear early avoids paying for, or relying on, the wrong kind of work.
BEFORE YOU DECIDE
Your questions, answered.
Is this guaranteed to be a licensed appraisal?
The provider and scope need to be confirmed directly for your property. Do not assume that description without written details.
Is an appraisal the same as an offer?
No. A valuation is an opinion; an offer sets out a proposed purchase and its terms.
Will I receive a written report?
Ask us to specify the deliverable before scheduling the service.
Can I use it for an estate or lender?
Ask the attorney, lender or other recipient what qualifications and report format they require.
What should I prepare?
Have available property details, information about condition and improvements, and the purpose for which you need the valuation.