Appraising One Home at a Time
In an ever changing market the best protection against overpaying for a property is to get an appraisal
Other reasons:
We are USDA, FHA and VA approved!
Do I have to get an appraisal?
Yes, if you borrow money from a bank/lender for a purchase. If you are paying cash, then it is recommended not required. We recommend getting an appraisal to avoid overspending for a purchase or determining market value if you are selling.
How much do these reports cost?
The price will vary based upon the complexity of the property. Please contact us for a quote.
What are our geographical areas?
We work in Caddo, Canadian, Cleveland, Grady, Lincoln, Logan, McClain, Oklahoma, Pottawatomie Counties.
Do you measure properties for listings or tax appeals?
Yes! For a fraction of the appraisal fee, we will come out and measure your property to ANSI standards.
Does the appraiser know the price stated in our contract?
Yes, the appraiser’s due diligence will include an analysis of the purchase contract and all addenda.
What should I expect during the appraisal observation?
We will arrive promptly at the scheduled time. We will gather our tools and introduce ourselves. Then, we will proceed to observe and measure the exterior of the property and proceed inside. We will take photographs of all 4 corners of the property, inside and outside of any outbuildings and all interior rooms. We will ask if you have made any updates to the property for our records. This process usually takes an hour. We retreat back to our offices and begin analyzing and creating your report. We typically have the reports back to you within a few days.
Are you a member of the local MLS?
Yes, we are members of the OKC MLS with access to supra keys for the convenience for our Realtor friends.
Are you licensed or certified appraiser? And why is that important?
Kristina Mathis with Legacy Appraisals is a Certified appraiser.
There are differences between being just licensed and certified, so it’s important to inform yourself of these differences, and I will mention just a few. The two don’t have the same education and training requirements – certification requires much more. Also, if an appraiser is not certified, there are restrictions on the properties that can be appraised, based on the overall value.
Let’s take a look at some specifications regarding licensed and certified appraisers, and please keep in mind that license and certification requirements may vary slightly by state.
Licensed Appraiser: Standard licensing where an individual may appraise non-complex, 1 to 4 residential units, and properties that have a value of $1,000,000 or less. They may also appraise complex 1 to 4 unit properties that have a value of $250,000 or less, as well as other property types of this value. Additionally, licensed-only appraisers are not allowed to conduct FHA appraisals that are for lending purposes.
Certified Appraiser: Higher-level licensing, with more training and education requirements, where an individual may appraise various residential and commercial properties, with no appraised value limit, and are qualified to conduct FHA appraisals for lending requirements.
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