Miller Valuations LLC
Professional Real-Estate Appraisals
About Us
Contact Info
Coverage Area
Fee Schedule
Summary of Qualifications
Why Get An Appraisal?
Homeowner Frequently Asked Questions
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Homeowner Frequently Asked Questions
We realize real estate appraisals can be a confusing thing. That is why we have compiled a list of common questions to help you understand the process!
Q. What is the difference between an appraisal and a home inspection?
A. The purpose of the home inspector's report is a report upon the condition of the home, while the appraiser's report is used for determining marketability of the home based upon information in the appraisals report.
Q. Who does the appraiser work for?
A. According to our professions' standards (known as USPAP, the appraiser is an unbiased, third party to the transaction. We are hired by lenders to report an opinion of value for the underwriting of your loan. Many homeowners believe that they are the "client", when in reality our client is the lender. You have a right to a copy of the appraisal report. However, you must get it from your lender. Furthermore, we cannot discuss any aspect of the finished appraisal report with you. Any concerns, please contact your lender.
Q. Do I need a lender in order to receive an appraisal?
A. No! We do private appraisals working individually with the buyer or owner. If you are curious of your home's value or selling your home, we can still offer services to you.
Q. When do you schedule inspection appointments?
A. Our business hours are 8am to 5pm, Monday to Friday. The appraisal inspection requires that it be daylight for the exterior pictures that need to be taken. Please keep this in mind and make time during business hours for your appraisal inspection.
Q. Can I request a specific time for the inspection?
A. Each appraiser determines their schedule and will contact you with a time they can be in your area. Although we try to take time requests into consideration, our schedules are based upon location. Most inspections in outer areas will be scheduled between 10 and 3 pm due to traffic problems during the "rush hour". Please keep your inspection time to avoid an additional trip charge. If you must cancel please give us a 3 hour notice so that we may reschedule your time slot.
Q. What does the inspection entail?
A. The appraisal inspection allows us to verify the amenities, location and condition of your home for the appraisal report. When we arrive we will measure both the exterior & interior square footage. We also take digital photographs of the interior & exterior of your home as well as any view amenities, additional buildings, special features & street/driveways. We take a written inventory of your home using market standards based upon the following factors:
- Quality
- Condition
- Materials
- Workmanship
- Functionality of the Layout
- Amenities
- Number of bedrooms/bathrooms
A. Your neighbor's house or any house in your immediate neighborhood is a good indication of what we call market value - what someone is willing to pay for your house in comparison to that house. We take all information into consideration when determining value including sales comparables, current listings, local appreciation values and other factors. The results will be a balanced and professional report in accordance with USPAP standards.
Your remodel may help the value of your home depending upon quality, style age, & type of remodel. We suggest visiting Remodeling Online's Cost Report for further information regarding best remodels for increasing value.
Regarding one of the main concerns we hear from homeowners: Why isn't my home worth what I think it is? Because of many factors and a limited understanding of home value, most homeowners are shocked even upset when the appraisal value is less than they think. This is not meant to be an insult. It is simply a professional opinion of their home's value in their immediate real estate market.