Ohio Statewide Appraisals, Inc.
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"What's an APPRAISAL, anyway?"
Generally, an appraisal is a defensible opinion of value
delivered by a qualified professional. The value may be market value, replacement value, or other types of value, as defined.
The qualified professional is, in some states, required to be a licensed or certified appraiser, who has researched specific data and applied methodology
to arrive at the opinion of what property is worth to a typically informed buyer
who is under no obligation to buy. (And that's the short definition!) There's many different
types of appraisal formats and methods, because there are many different types of property, and many
different purposes to evaluate its worth.
"So, what's an average home worth?"
Sorry, but there is no simple answer to such a broad question.
An average home in your neighborhood, might be an unusual home in another.
The size, location, condition, and use of the property are very important factors.
But, formal methods do exist that allow a skilled appraiser to evaluate your SPECIFIC property,
and the process of researching and applying those methods is the heart of the Real Estate Appraisal.
"But, my tax assessor already appraised my home!"
The Appraised Value of your home often differs from what your county auditor arrived at.
Generally, the assessor's job is to apply the law to collect taxes. There may be things
about your home that differ from what the county records say, and the county may only
update it's records every 3 to 6 years. Thus, on the timeliness, accuracy and completeness
of data, the assessed value can be called into question in many cases.
"But, my insurance agent already appraised my home!"
Generally, insurance provides economic relief, and may cover contents, but does not count your land.
An appraisal differs in those respects and many others. Insurance agents often use a computerized program to give an estimate
for insurance purposes, but most states limits it's use, and it is not an appraisal.
"But, my Real Estate Agent appraised my home!"
Actually, the agent probably called it a Market Analysis or "CMA", because in some states,
it is illegal for anyone to appraise without an appraisal license.
Of course, a salesperson is there to sell the property, but they are paid a commission, usually by the seller.
Knowing that, they may be duty bound to try to obtain the highest possible price, not the correct, fair market value.
A Sales Agent may have no training or experience in real estate appraisal.
"So, how do I know what's right for MY home?"
It's best to consult a certified, professional appraiser in the first place, and put
your mind at ease. They have the training, professionalism, and experience to guide you.
Banks, lenders, and real estate professionals have always known where to turn for property appraisals - now you know, too.
Use a professional appraiser, certified by your state. That way, you can obtain an honest, fair appraisal on your biggest investment,
your home.
To Email your order for an appraisal or related services, click
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