Real estate appraisals are an important part of buying, selling, and managing property. Appraisals help determine a property’s market value, which is an essential piece of information for making informed real estate decisions. However, traditional appraisals can be time-consuming and costly. Growthland offers Express Appraisals as a quicker and more convenient option.
What is an Express Appraisal© report?
An Express Appraisal report is a type of real estate appraisal that is designed to provide a streamlined evaluation of a property’s value. This type of appraisal may be useful for situations where a full appraisal is not required. Express Appraisals are typically completed within a shorter timeframe than traditional appraisals, ranging from a few days to a week, and may reduce your cost.
Our Express Appraisals are USPAP compliant and appraiser certified, providing a reliable and accurate assessment of your property’s value. These reports can replace internal valuations for collateral valuations, annual renewals, loan committee preparation, estate planning, and litigation support.
What is included in an Express Appraisal© report?
Our Sales Database is a sales comparison analysis solution that provides fast, accurate, and consistent reporting. Our exclusive algorithm assists in selecting the best comparable sales for the report, ensuring that our appraisers have access to the latest data when estimating the current market value of your property.
An Express Appraisal includes basic information about the property, such as its location, size, and condition, as well as an estimate of its current market value. At Growthland, our appraisers use our proprietary Sales Database to provide the latest data to arrive at a current market value for your property.
When are Express Appraisals© Useful?
Express Appraisals are often useful in situations where a full appraisal is not required or when time is of the essence. For example, a property owner who is considering selling their property and wants a quick estimate of its value may request an Express Appraisal. Similarly, a potential buyer who wants to make an offer on a property may want to get an Express Appraisal to determine whether the asking price is fair. Express Appraisals can also be useful for tax purposes, buy-sell agreements or for settling estates.
It’s important to note that an Express Appraisal report should not be used for complex or high-value transactions, as a full appraisal may be necessary to provide a more accurate and detailed assessment of the property’s value. In these cases, a full appraisal may be required by the scale and complexity of the transaction, or the financing utilized.
Express Appraisals are a convenient and cost-effective option for many real estate transactions. Express Appraisals are a sales comparison analysis solution that provide fast, accurate, and consistent reporting when full appraisal reports are not required. If you have more complex appraisal needs, we offer a range of appraisal services to help you make informed real estate decisions.
Contact Growthland today to learn more about our appraisal services and how we can assist you in your real estate transactions.