Frequently Asked Questions

 An appraisal is a professional, unbiased opinion of a property's value, conducted by a certified real estate appraiser. Appraisers evaluate various factors, including the property's quality, condition, location, comparable recent sales in the area, and market trends. The format/style of the appraisal report and definition of value can vary based on the intended use of the appraisal (sale, refinance, divorce, estate, bankruptcy, FEMA 50, investor, etc.).  A good appraisal report is clear, easy to read, unbiased and supported by data. 

The cost of an appraisal with Jack Lavoie, SRA, AI-RRS varies depending on the type of property and many other factors. Please contact us for a quote as we will tailor a report type and scope of work that is the right fit for your appraisal needs. 

All of Jack Lavoie, SRA, AI-RRS's appraisers are licensed and certified by the state and have extensive experience in the industry. We are committed to providing our clients with the highest quality appraisal services.

Appraisers use three main approaches to determine a property's value:

1. Sales Comparison Approach: This method compares the property to similar properties that have recently sold in the area. Adjustments are made for differences, such as size, location, and features, to estimate value.
2. Cost Approach: This approach estimates the cost to replace or reproduce the property, minus any depreciation, and is often used for new construction or unique properties. It factors in land value and the current cost of building materials and labor.
3. Income Approach: Commonly used for income-producing properties, like rental homes or commercial buildings, this method determines value based on the property's ability to generate income. It considers factors such as rental income, expenses, and market conditions to estimate its profitability and value.

Each approach provides insight into different aspects of value, and appraisers often use a combination of these methods to determine the most accurate value for a property.