What is an Appraisal?
An appraisal is a professional appraiser's opinion of value. The preparation of an appraisal involves comprehensive research into appropriate market areas, the assembly and analysis of information gathered which is pertinent to a particular property, and the reconciliation of all facts to form an opinion of value. The appraiser should be knowledgable, ethical, and qualified through designated education, licensure, and gained experience. The appraiser's role is to provide objective, impartial, and unbiased opinions about the value of real property - providing assistance through written or oral reporting to those who own, manage, sell, invest in and /or lend money on the security of real estate.
All states require appraisers to be state licensed or certified in order to provide appraisals to federally regulated lenders. Appraisers have fulfilled rigorous educational and experience requirements and must adhere to strict standards and a code of professional ethics. These qualifications assure lenders and other intended users of appraisals to feel more confident in their role of decision making in mortgage lending and other transactions dependant upon current, accurate, and quality reporting of opinions of value.
Atlantic Coast Appraisal Services, L.L.C. Phone: 609-296-4542 Fax: 609-296-3860