A residential appraisal is a property-specific valuation assignment completed by a licensed or certified appraiser. While the exact scope depends on the client and intended use, most appraisal assignments follow a similar general process.
Typical appraisal steps
- Assignment setup: The client, intended use, effective date, property, and scope of work are identified.
- Scheduling: When an interior or exterior observation is required, access is coordinated with the property owner or authorized contact.
- Property observation: The appraiser observes relevant property characteristics, condition, improvements, layout, site features, and other assignment-specific details.
- Market research: Relevant sales and market data are analyzed.
- Valuation and reporting: The appraiser reconciles the available evidence and completes the appraisal report.
How to prepare
Make sure all required areas are accessible and have information about major improvements available. For a more detailed checklist, see our How to Prepare for an Appraisal page.