What is an appraisal?

As defined by the Uniform Standards of Professional Appraisal Practice (USPAP) appraisal is: the act or process of developing an opinion of value. An appraisal must be numerically expressed as a specific amount, as a range of numbers, or as a relationship (e.g. not more than, not less than) to a previous value opinion or numerical benchmark (e.g., assessed value, collateral value).

What does an appraiser do?

An appraiser is expected to evaluate property values of nearby real estate and to form an impartial opinion of the selling value or said real estate based on condition of property and the current real estate market. Huiet Appraisal Company prides itself on its expertise and experience in the field of appraisal. We not only provide you a value of your property but insight into the current selling market by means of offering you professional real estate appraisal - timely, thorough and unbiased.

Why would I need an appraiser?

If you have ever bought a house, sold a house, been through a divorce, or wanted to invest in real estate you need a professional real estate appraiser. An appraisal is an independent, unbiased estimate of value, which serves as the basis for of a fair transaction between two parties.

What would an appraiser do for me?

In any transaction there is always a question of actual value versus perceived value. An appraisal protects you and your buyer or seller by eliminating value oriented risks, which can include:

• Selling too low
• Paying too much
• Being over or under insured
• Not getting a fair share in divisions of property
• Overpaying in taxes
• Being audited for a deduction
  

Professional appraisals create a documented value of your property and help you to manage your interests.

What is the purpose of an appraisal?

Investments
Pension and investment fund managers, corporations, or investors are often required to have an appraisal ordered before acquiring real estate or other investments.

Mortgage Loans
More often than not mortgage loans revolve around an appraisal value. Mortgage companies often contract appraisal companies in order to determine the value of the real estate in question. They then use their value as the basis for the collateral of the loan.