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Residential Property Appraisal

© By: Patrick O'Connor

Appraisals of houses are often needed for judicial proceedings. This includes estate planning, filing estate tax returns, divorce and civil disputes regarding construction defects and fraud...

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HTML Version	<h1>Residential Property Appraisal</h1> © By: <a href='http://fileblogs.com/index.php?page=author&author_name=Patrick+O%27Connor' target='_blank'>Patrick O'Connor</a><br><br> <b>Residential Property Appraisals </b><br> Appraisals of houses are often needed for judicial proceedings. This includes estate planning, filing estate tax returns, divorce and civil disputes regarding construction defects and fraud. Carefully define the purpose of the appraisal and the scope of work with your appraiser prior to entering into an engagement. The scope of work needs to be tailored to the purpose of the house appraisal. <UL> <LI>Quick turn-around time <LI>EDI available <LI>Order confirmations and status reports faxed to you</LI></UL> Home appraisals are time sensitive and critical to financing your home. Numerous requirements must be fulfilled to close the purchase or refinancing of a house. While most house appraisals are to document the value when purchasing or refinancing your house, there are many other reasons appraisals of homes are required. These include estate planning, intra family sales, estate taxes, divorce and expert witness testimony regarding litigation. Appraisals of homes for expert witness testimony require a higher standard of care than routine appraisals. All data should be verified and the circumstances of each sale should be reviewed. The final report should be checked and double checked to avoid any math or typographical errors. We understand timely, accurate, and well documented appraisals are essential in each situation. The accuracy of the appraisal depends on the quality and quantity of available data and the skill and judgment of the appraiser. Appraising highly atypical properties foe which there are few or no comparables is difficult and complex. The more atypical the property, the more difficult the assignment and the less reliable the result. <BR><BR><b>Single Family Report Types </b><BR>Homes, Condos, Townhouses and 2 - 4 Family Dwellings in Harris, Montgomery, and Fort Bend Counties. These are our primary service areas. For specialty appraisals of unique properties or litigation engagements, we accept to engagements outside this geographic area. <UL> <UL> <LI>Final Inspections (FNMA 442). The final inspection reviews the plans for a house and the completed home to confirm they are consistent. Differences between the plans and the home are noted in the final inspection report. <LI>Evaluation Report (Freddy Mac, 704) <LI>Desk Review. A desk review typically is an independent review of an appraisal report completed by an appraiser in a different firm. In most cases, the appraiser does not inspect the property or reach a separate value conclusion. However, it is possible to engage a more thorough review of an appraisal. <LI>Re-certification of Value <LI>Drive-by Appraisal (URAR 2055) with Interior <LI>Drive-by Appraisal without Interior. <LI>Limited Appraisal with Inspection (Form 2075) <LI>Complete Appraisal (Form 1004, properties <$1,000,000) <LI>Complete Appraisal (Form 1004, properties >$1,000,000) <LI>Vacant Lot <LI>ERC Appraisals <LI>FHA Appraisals <LI>2 - 4 Family/Income Properties</LI></UL></UL><b>» <A class=ulink style="COLOR: #770000" href="apr_res_apr_order.asp">Click here to order a Residential Appraisal</A></b> <BR><BR> <BR>For more information <A class=ulink style="COLOR: #770000" href="mailto:gthomas@poconnor.com">e-mail George Thomas</A> or call <b>713-686-9955</b>.<BR>Appraisal Fax: 713-686-8336 <UL></UL>O'Connor & Associates is a national provider of <b>commercial property</b> real estate consulting services including <a href="http://www.oconnorcomps.com/whatnew.aspx?pgType=Commercial%20Comparable%20Sales%20Approach.htm">commercial comparable sales approach</a>, <a href="http://www.oconnorcomps.com/whatnew.aspx?pgType=Commercial%20Comparable%20Sales%20Land%20Sales.htm">commercial land sales</a>, <a href="http://www.oconnorcomps.com/whatnew.aspx?pgType=Commercial%20Comparable%20Sales%20Matched.htm">commercial comparable sales matched pair analysis</a>, <a href="http://www.oconnorcomps.com/whatnew.aspx?pgType=Comparable%20Sales%20Confirmation.htm">commercial sales confirmation</a>, property appraisal, & lease audits.<br><br> Our services benefit owners of all commercial property types including multi-family housing, retail stores, hospitals, hotels, industrial properties, manufacturing facilities, medical offices, commercial offices, restaurants, self-storage units, shopping malls, shopping plazas & warehouse/distribution centers.<br><br> About the Author:<br><br> Patrick O’Connor, MAI is president of O’Connor & Associates, a 180-person real estate services firm in business since 1974. O’Connor can be reached at 713 686 9955 or poconnor@poconnor.com.<br><br> Read more Articles on <a href='http://fileblogs.com/Home-Based-Business&category_22' target='_blank'>Home Based Business</a> at <a href='http://fileblogs.com' target='_blank'>FileBlogs.com</a>
Plain Text Version	Residential Property Appraisal © By: Patrick O'Connor Residential Property Appraisals Appraisals of houses are often needed for judicial proceedings. This includes estate planning, filing estate tax returns, divorce and civil disputes regarding construction defects and fraud. Carefully define the purpose of the appraisal and the scope of work with your appraiser prior to entering into an engagement. The scope of work needs to be tailored to the purpose of the house appraisal. Quick turn-around time EDI available Order confirmations and status reports faxed to you Home appraisals are time sensitive and critical to financing your home. Numerous requirements must be fulfilled to close the purchase or refinancing of a house. While most house appraisals are to document the value when purchasing or refinancing your house, there are many other reasons appraisals of homes are required. These include estate planning, intra family sales, estate taxes, divorce and expert witness testimony regarding litigation. Appraisals of homes for expert witness testimony require a higher standard of care than routine appraisals. All data should be verified and the circumstances of each sale should be reviewed. The final report should be checked and double checked to avoid any math or typographical errors. We understand timely, accurate, and well documented appraisals are essential in each situation. The accuracy of the appraisal depends on the quality and quantity of available data and the skill and judgment of the appraiser. Appraising highly atypical properties foe which there are few or no comparables is difficult and complex. The more atypical the property, the more difficult the assignment and the less reliable the result. Single Family Report Types Homes, Condos, Townhouses and 2 - 4 Family Dwellings in Harris, Montgomery, and Fort Bend Counties. These are our primary service areas. For specialty appraisals of unique properties or litigation engagements, we accept to engagements outside this geographic area. Final Inspections (FNMA 442). The final inspection reviews the plans for a house and the completed home to confirm they are consistent. Differences between the plans and the home are noted in the final inspection report. Evaluation Report (Freddy Mac, 704) Desk Review. A desk review typically is an independent review of an appraisal report completed by an appraiser in a different firm. In most cases, the appraiser does not inspect the property or reach a separate value conclusion. However, it is possible to engage a more thorough review of an appraisal. Re-certification of Value Drive-by Appraisal (URAR 2055) with Interior Drive-by Appraisal without Interior. Limited Appraisal with Inspection (Form 2075) Complete Appraisal (Form 1004, properties <$1,000,000) Complete Appraisal (Form 1004, properties >$1,000,000) Vacant Lot ERC Appraisals FHA Appraisals 2 - 4 Family/Income Properties» Click here to order a Residential Appraisal For more information e-mail George Thomas or call 713-686-9955.Appraisal Fax: 713-686-8336 O'Connor & Associates is a national provider of commercial property real estate consulting services including commercial comparable sales approach, commercial land sales, commercial comparable sales matched pair analysis, commercial sales confirmation, property appraisal, & lease audits. Our services benefit owners of all commercial property types including multi-family housing, retail stores, hospitals, hotels, industrial properties, manufacturing facilities, medical offices, commercial offices, restaurants, self-storage units, shopping malls, shopping plazas & warehouse/distribution centers. About the Author: Patrick O’Connor, MAI is president of O’Connor & Associates, a 180-person real estate services firm in business since 1974. O’Connor can be reached at 713 686 9955 or poconnor@poconnor.com. Read more Articles on Home Based Business at FileBlogs.com
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