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Frequently Asked Questions


What are the benefits of your service?
Did you ever wonder what your home was worth or what homes have sold for in your neighborhood? It used to be that only large institutions had access to critical public record information that could be used to determine real estate values. They say knowledge is power, now Electronic Appraiser puts information in your hands and provides a powerful automated valuation analysis. This is the same information used by banks, appraisers and realtors to make lending, valuation and other important decisions.


How much do your reports cost?
Our reports range from $4.95 to $29.95 with discounts for volume users. They are a great value when you consider that a typical residential appraisal can cost between $250.00-$500.00.


How do I get your reports?
Its easy just start by inputting an address on our home page. Electronic Appraiser is the only service which gives you an instant online report in a well organized and easy to read format complete with color graphs and charts.


What types of property do you provide reports on?
Electronic Appraiser only provides reports on residential properties. Reports are not available for commercial, industrial, vacant land or agricultural properties.


What is an appraisal?
An appraisal is an estimate of a property's fair market value prepared by a licensed professional who takes into consideration many items, including: recent sales of comparable properties, location, home size and physical condition. An appraisal may cost anywhere from $250-$500.00 or higher and usually takes from 1-3 weeks to prepare. The Appraisal Standards Board (ASB) of the Appraisal Foundation develops, publishes, interprets and amends the Uniform Standards of Professional Practice (USPAP) which sets forth the standards for appraisers and the users of appraisal services.


What is a comparative market analysis?
A comparative market analysis is an unscientific and informal estimate of the market value of a property prepared by a real estate broker/agent based on their knowledge of a particular market area and recent sales of similar properties in that market. Realtors often use this method when advising clients what the listing price of homes for sale should be.


What is an automated valuation analysis?
An automated valuation is what you get when you buy a report from us. We prepare our automated home valuations through a continuously updated nationwide data store to of billions of records, we gather specific data on the subject property and then estimate the value of that property in real time. Our valuations are based on comparable sales data, a price and time comparison and a complex valuation engine. Our reports are the most accurate in business, second only to a physical inspection and opinion by a qualified professional. An automated valuation is not an appraisal and no human interaction or inspection is involved in such an analysis; however banks and lenders routinely use such analysis to check the accuracy of appraisals in what is known as the appraisal review process. Further, appraisers and realtors use the same type of information when conducting valuations and market analysis.


How is the automated valuation analysis limited?
The automated valuation analysis is not an appraisal and no site inspection is completed as part of the process. Excess depreciation or wear and tear as well as property upgrades which are not contained in public record information will not necessarily be reflected in the automated model and the analysis is limited in discerning these types of conditions.


How is our service different from an appraisal or comparative market analysis?
A licensed appraiser certifies to the estimate of value in an appraisal based on a physical inspection during an onsite visit. The automated valuation model is designed to duplicate and take into consideration the same functions as an appraisal but is limited in the things it can discern as noted above. A comparative market analysis is a guesstimate of value based on the particular level of expertise possessed by the realtor preparing the analysis and this may lack critical information not available to the realtor at the time. A comparative market analysis lacks the complex valuations analysis that you get when completing a valuation through Electronic Appraiser.


What type of information is contained in your reports?
Electronic Appraiser reports contain important information used in the automated valuation process, these include: A reliable value for each home, detail on the subject property, comparable properties, sales price per square foot, assessed value/sales price ratio, comparable detail, demographic information, comparison tables, School and Hospital Information plus so much more! These items are further explained below:

Detail of the Subject Property  This is a detailed report on the analyzed property with recent history as to sales price, current owner, tax assessed value and a description of the size of both the structure and property. This information is used as the basis to find Comparable properties.

Comparable properties  These are properties which exhibit similar characteristics to that of the property being analyzed. The living area size and distance from the property being analyzed are key components in estimating the value. Properties of similar size and characteristics in the same area tend to have similar values. Comparable sales relate to sales prices of Comparable properties.

Sales Price Per Square Foot  This is a mathematical calculation obtained by dividing the sales price of a comparable property by its size in square feet. Thus a $200,000 home that was 2000 sq. ft. would have a sales price per square foot of $100.00. An average of the sales price per square foot of Comparable properties can then be used to estimate value.

Assessed Value/Sales Price Ratio  This is a mathematical calculation where the tax assessed value (the value the local taxing authority has placed on the property) is divided by the most recent sales price. Most tax assessments are lower than actual sale value but the ratio is used as a valuation tool.

Demographic Information  This is information on the location and characteristics of the community the property is located. A census tract is a geographic designation established by the U.S Census which is assigned a designated number to keep track of population trends and census information.

Price Trends  This compares the price trend of the zip code in which the subject property is located as well as the price trend in the county that the property is located. The property which is being analyzed is referred to as the subject and is abbreviated on the bar graph as Sub. The subject property will always be delineated in another color as depicted in the graphs and charts noted on the report.


Where do you get the information in your reports?
Information used in the reports are from the public records maintained by local, state and federal government records including county clerks, taxing authorities, etc. The accuracy of this data is based on the manner in which it is collected and the requirements to report certain information. There are varying degrees of what type of information is reported depending on location.


Who else uses your reports?
Banks, investors, lenders, home owners and appraisers use our reports for a variety of functions including portfolio analysis, appraisal review, compliance, analysis, reports and other services.


What if I get error messages and can not get a report for some reason?
You must be in a coverage area to receive a report. Further you must make sure you have the correct address information and you are not requesting a report on a commercial, industrial, vacant land or agricultural property. In some cases there may be problems obtaining values on unique properties such as mixed use or in other unusual circumstances. In some instances there may be an insufficient number of comparables to prepare a report. In the event that this occurs you should will not be charged.


Is purchasing a report from Electronic Appraiser secure?
Purchasing reports online through reputable companies is as safe or safer than giving your credit card information to retailers or in regard to catalog sales via the telephone. Electronic Appraiser has sold thousands of such reports and we have a sophisticated credit card authentication and verification system to prevent fraud. You should feel as safe or safer as if you were using your credit card in a retail store or restaurant.


What credit cards do you accept?
Electronic Appraiser accepts MasterCard/VISA and American Express. This includes all debit or stored value cards carrying the MasterCard or VISA logo.


Is my credit card information safe?
Electronic Appraiser uses a secure transaction processing system which employs a 128-bit Secure Sockets Layer (SSL) program and other safeguards. All information is encrypted including all credit card and personal information. All e-commerce transactions are carried out using a real time, automatic payment gateway.


Is my privacy protected?
Electronic Appraiser respects and values your privacy and is dedicated to maintaining your privacy with respect to any information you provide concerning your interaction with our website. Electronic Appraiser takes every precaution to protect your information and all such information is restricted in a secure environment. To see the complete terms of our Privacy Policy please (click here).


Will I be contacted regarding special discounts and offers?
If you select the option to receive information on special discounts or offers, we will contact you via e-mail or other media from time to time. Some Electronic Appraiser offers may include special pricing on new reports or products, discounts on the products of related entities, newsletters or other free information, discounts for multiple reports, professional volume discounts, special offers from our affiliates and other benefits.


What are cookies and do you use them?
Cookies are bits of information stored on a computer hard drive which stores information about the user. Cookies are used in most websites and help a user gain access and interaction with a particular website including . Cookies help us track data which relates to usage patterns and helps us improve our content and method of delivery. Cookies may provide a purchase history and alert us to when a customer is entitled to special discounts. If you do not want any information collected through the use of cookies you can disable the function in your browser which activates the cookie feature. More information concerning cookies is set forth in our Privacy Policy, for a complete copy of our Privacy Policy .


What if I need help from your customer service department?
If you need help from customer service please click here to contact Electronic Appraiser or contact us by telephone at (561) 235-2279


What if I have comments and suggestions about your website?
We welcome comments and suggestions about our website and how we can improve our service. If you have comments or suggestions about our site please click here to submit them to Electronic Appraiser.


How can I link Electronic Appraiser to my website?
Electronic Appraiser has a generous affiliate program which allows you to place banner ads or text links directly to our website. For complete details concerning our affiliate program (click here). Click here to contact the Electronic Appraiser affiliate department.


Do I need an Appraiser if I am using a Realtor?
It's not uncommon for real estate agents and their sellers to disagree on what the sales price of their home should be. After all, a seller's view of their home's value may be somewhat emotional and a real estate agent should be basing their opinion on current and historical market data. Under these circumstances, requesting a seller to lower their asking price can prove to be a daunting task. However, there is a straightforward way to ease sellers into seeing the true market value of their home.
When a real estate agent and a seller just can't come to terms on what a home's value really is, it's time to bring in the help of an unbiased professional. A professional appraiser can be a great help in situations like this. By providing you with a "full blown" appraisal report, an appraiser plays a very important role in educating the sellers on how they arrive at the true market value of their home. The appraiser has no vested interest in the outcome of the report, which in itself can be reassuring to the seller.
Part of the appraisal process includes an inspection of the inside and outside of the home. This is where the seller has the opportunity to "show off" many of the customized features of their home. The body of the appraisal report usually includes at least three recent comparable sales along with a map and photographs. The complete report can be emailed to the listing agent and/or the sellers in PDF format for discussion and review.
The next time you and a seller don't see eye to eye on the asking price of a listing, or you have a listing that's just not selling and the seller has resisted any price reduction, contact for all your electronic valuation needs. A just valuation will save Realtors and homeowners time and money!


What's an Appraiser?
An appraiser is a licensed professional who provides appraisal services for a fee. These professionals are often required to take courses and have undergone an extensive training period. In States where appraisers must be licensed, the appraisers must also pass a test, complete basic education requirements and adhere to continuing education guidelines. The majority of States also require that an appraiser "apprentice" under an experienced appraiser for a certain number of hours before performing appraisals on their own.


What's an Appraisal
An appraisal is the professional opinion of an appraiser as to what a home is worth. An appraisal can provide you with an unbiased and impartial analysis as to the market value of your home. Appraisers use a number of factors when performing an appraisal, such as the condition of your home, what comparable homes have sold for in your area, and other determining factors that impact the value of your home. The appraisal is then provided by means of a written report.


How Is An Appraiser Different From a Real Estate Agent?
Your real estate agent is a sales professional who is hired to help you buy or sell a home. Your real estate agent can also help you determine the market value of your home, however, that is not their main role. An appraiser, on the other hand, is solely hired to determine the market value of a home. They have no outside interests that would affect what they determine your home to be worth, allowing them to be impartial when providing an appraisal.


What Does an Appraiser Do?
An appraiser performs a number of tasks including an inspection of the home that he or she is appraising. The appraiser may also perform a thorough research of public records in order to obtain items such as a plat map, research on zoning, a flood data inspection and review the sales and listings of similar homes in your area.
When inspecting your home, the appraiser will make notes of the property charateristics and any improvements and physical characteristics. After inspecting your home, the appraiser may take photos of the subject and of comparable homes that have sold in your area. An appraiser regularly contacts the agents that sold those homes to get more details pertaining to those sales.
After the appraiser has collected all of the information, they combine it in a report format where they compare comparable listings and sales against the subject property. The different characteristics such as size and age of each comparable property are weighed against the characteristics of the subject. Then using the information that the appraiser has collected, he or she will determine the market value a property.


Who Can Perform an Appraisal?
In most places, anyone can perform an appraisal as long as it is performed for non-lending purposes. If, however, an appraisal is needed for lending purposes, the appraisal must be performed by a state-licensed and certified appraiser.


Are Appraisers Requlated?
Appraisers that are licensed or certified by their states are regulated by the state agency that enforces the state and federal regulations for appraisers. Most states differ in their regulation process. For more information contact your states licensing board.


What Are the Professional Standards for Appraisers?
If an appraiser is licensed or certified by the state in which they conduct business, they are required to adhere to the Uniform Standards of Professional Appraisal Practice, which are determined by The Appraisal Foundation. The Appraisal Foundation is the nonprofit organization that establishes the Uniform Standards of Professional Appraisal Practice as well as the educational requirements for state licensed and certified appraisers.


What Rules Do Appraisers Have to Follow?
Each state has its own appraisal requirements. When an appraiser is licensed by his or her state, he or she must adhere to those requirements. In addition, when an appraiser is performing an appraisal for a lender, the appraiser must adhere to the lender's requirements as well.


Why Do Lenders Use Appraisers?
The majority of appraisals that are performed are performed for mortgage lenders. Lenders rely on appraiser to inform them of the market value of a home before the lender puts out money for the purchase of that home. In this instance, the appraiser is working for the lender, ensuring that their investment is well advised. Even if the buyer is the one paying the lender, the appraiser is working for the lender, not the buyer.


Do I Need to Have Anything For the Appraiser When He or She Comes to My Property?
While you are not required to have anything ready for an appraiser when he or she appraises your home, it is helpful if you make note of all of the special features of your home, such as any remodeling or improvements. Also, if you know of a similar home that sold in your area, make sure you let the appraiser know about it.


Who Does the Appraisal Belong To?
The appraisal is owned by whoever ordered it. If the lender ordered it (even if the homeowner or buyer paid for it) then the appraisal belongs to the lender. However, if the appraisal is ordered by the homeowner for non-lending purposes, the homeowner owns it.


Will I Receive a Copy of the Appraisal?
A borrower is entitled to a copy of the appraisal under federal law. If the borrower would like to see a copy of the appraisal, he or she must request it from the lender. Appraisers are not allowed to give a copy of the appraisal to the borrower unless the borrower ordered the appraisal for non-lending purposes.


Why Are There Letters after an Appraiser's Name?
The letters after an appraisers name indicate how much education and experience an appraiser has.


How Do You Go About Becoming an Appraiser?
Generally, to become an appraiser, you must take classes, train under another licensed or certified appraiser and then become licensed or certified by your state.


What Do I Do If I Think An Appraisal Was Done Incorrectly?
If you think an appraisal was done incorrectly, first contact your loan officer as to why you think the appraisal was done incorrectly. If the appraiser missed home sales that would have played a significant part in determining the value of your home, let him or her know. If, however, you think fraud was involved or the appraiser was not qualified to perform the work he or she was performing, contact your state licensing agency.

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