The art & science of the appraisal process.
Appraisal reports offer three approaches when weighing value; the sales comparison approach, the income approach and the cost approach. Because of these three approaches, the appraisal process is both a science of calculations while also a blend of statical data in determining the final reconciliation.
“…..superior knowledge of the real estate market. Highly recommend using Brittany for all your appraisal needs.”
- NEMAT JANETKHAN
Our services
Single Family & Condo
Whether you are purchasing, refinancing or have other intended uses for an appraisal report, there are three different approaches that are considered and/or used to arrive at a reconciled value. The most commonly used approach for this report is the sales comparison approach. This approach uses recent comparable sales in the market while meeting specific guidelines and making adjustments when necessary. We offer services for private sales as well as financing purposes.
FHA/HUD
The Department of Urban Housing (HUD), requires that every certified appraiser is FHA- approved and on the FHA appraiser roster. Along with a typical appraisal inspection, FHA requires the home to meet additional health and safety standards. FHA appraisals often times have final inspections due to these repairs and costs to cure. If you have questions regarding an FHA appraisal feel free to contact us directly in order to eliminate final inspections.
New Construction
The initial appraisal is based off of plans and specifications provided. This appraisal is made “subject to completion” of the property. Once the home is 100% complete, a final inspection will take place in order to ensure that everything was done, per plans and specs. The cost approach and sales comparison approach are typically given the most weight in the scenario. The cost approach is used to determine the value of the land, plus the value to construct the dwelling.
Multi-Family Investment
Duplexes, Triplexes or Fourplexes; In the income approach, the potential gross income, expenses and total operating income are concluded.The sales comparison helps find gross rent multipliers to use in the income approach. Rental comparables are also found to determine market rent. All of these numbers play a key role in concluding a reconciled value.
Complex Properties
Live in a penthouse? We would love to see it! BMV Real Estate understands craftsmanship, high end finishings, custom materials, and energy efficient homes. We are constantly keeping up with the latest & greatest in order to comply and maintain our knowledge in specialty homes.
Consulting & Reviewing
BMV Real Estate has the ability to do field reviews, desk reviews and/or market consulting. If you are not finding what you need, we would be happy to consult on any needs. We have a passion for real estate and are always open to consultations with well documented meetings.
Request an Appraisal
Not sure what type appraisal you need? That’s ok! We can help you figure out your needs.
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