Description
Appraise residential real estate to develop credible opinions of market value for lending, purchase, refinance, estate, and legal purposes. Inspect homes and 1-4 unit properties, analyze comparable sales and market trends, apply appropriate valuation approaches, and deliver USPAP-compliant reports.
- • Inspect residential properties, documenting condition, quality, upgrades, and functional utility.
- • Measure structures and calculate gross living area per applicable standards; create site and floor plan sketches.
- • Research and verify comparable sales, listings, and pending contracts using MLS and public records.
- • Analyze neighborhood influences, location factors, and market trends affecting residential values.
- • Apply sales comparison, cost, and when appropriate income approaches to estimate market value.
- • Adjust comparable sales for differences in features, condition, site, and market conditions.
- • Estimate land value and replacement cost using cost manuals, local data, and professional estimators.
- • Photograph subject properties and comparables to substantiate findings and reports.
- • Verify legal descriptions, zoning, flood zones, easements, and restrictions that may affect value.
- • Check building codes, permits, and zoning compliance; note nonconformities or unpermitted work.
- • Review income and expense data and market rents for 1-4 unit rentals to develop the income approach.
- • Interview owners, agents, contractors, and property managers to obtain pertinent property information.
- • Confirm sale details with market participants to validate data accuracy.
- • Prepare USPAP- and lender-compliant appraisal reports that explain methods, assumptions, and conclusions.
- • Reconcile indications from different approaches to arrive at a final opinion of value.
- • Maintain workfiles, comparable sales databases, and geographic competency for assigned markets.
- • Inspect new construction and major renovations to assess progress, quality, and value impact.
- • Evaluate proximity to schools, employment centers, transportation, parks, and nuisances for external influences.
- • Search deeds, prior listings, and transfer records to verify ownership and transaction history.
- • Respond to underwriting conditions and reconsiderations of value with supported analyses.
- • Provide expert testimony or consultation on residential property value when required.
- • Adhere to USPAP, state licensing laws, and investor/lender guidelines (e.g., Fannie Mae, FHA).
- • Follow client engagement letters, scope of work, and timeline requirements.
- • Pursue continuing education and maintain professional certifications and licenses.
- • Use appraisal software, GIS, and mapping tools to produce exhibits, analyses, and reports.
- • Coordinate property access, observe safety protocols, and respect occupant privacy and security.
- • Maintain independence, confidentiality, and ethical standards; manage potential conflicts of interest.
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O*NET occupational data (work activities, skills, knowledge).
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Last reviewed: Jan 2026
