An appraisal report is a detailed document by a licensed appraiser that estimates a property's fair market value. It is needed to ensure accurate pricing for buyers, sellers, and lenders.

Appraisals are conducted by certified or licensed appraisers who complete state-approved education, training, and exams, and follow standards like USPAP.

Appraisal reports include property location, size, condition, improvements, comparable sales, market trends, photos, maps, and the appraiser’s valuation with supporting data.

Lenders use appraisals to decide loan amounts. If a home appraises lower than expected, it can delay or reduce loan approval and require renegotiation or a larger down payment.

Factors include size, age, condition, upgrades, location, school district, market demand, recent sales, and even curb appeal.

An appraisal estimates value based on market data, while a home inspection assesses physical condition and identifies needed repairs.

If the appraisal is low, the lender may not fund the full amount. Buyers may renegotiate, increase their down payment, or dispute the appraisal.

Yes. Homeowners can make small upgrades, fix damage, maintain the exterior, and share a list of recent improvements with the appraiser.

Appraisals are typically valid for 90 to 120 days. After that, a new or updated appraisal may be needed depending on market conditions and lender policies.

Yes. A Reconsideration of Value (ROV) can be submitted with better comparables, missing details, or factual corrections for review.