An Introduction To The Home Appraisal Process
Hi, and welcome to the SoCal Appraisal Vlog. I created this vlog to help homeowners, first time homebuyers, real estate agents, and attorneys make informed real estate decisions.
The appraisal is perhaps the least known part of the real estate business with many misconceptions about who we are, what we do, and how we do it.
Appraisers are governed by Uniform Standards of Professional Appraisal Practice (USPAP) for short. The purpose of USPAP, according to USPAP, is to promote and maintain a high level of public trust by establishing requirements for appraisers. As a result, it is the appraiser’s responsibility to protect the overall public trust and it is the importance of this role that places ethical obligations on those who serve as appraisers.
Why do I tell you this? So you understand that the role of the appraiser is to protect YOU, the public by following established guidelines.
Appraisers are like umpires in baseball or referees in football or soccer. We are unbiased, disinterested 3rd parties making sure the game is being played fairly whether it’s valuing a home for a loan, or for divorce settlement or tax basis for your Estate and the IRS.
Why is this important? Because human nature tells us that if we have an interest in the transaction, we are likely to be biased in our judgment, whether intentional or even unintentional.
So here on my Vlog, I will provide you with relevant information about the appraisal process, the appraiser’s role and how that benefits and protects you, the public.
If you have something you want me to discuss, let me know and I will be happy to do a vlog on that topic.
Here’s to hoping that I can help YOU make INFORMED real estate decisions!