AMS Appraisal Management Services, Inc. prides itself on Continuing Education, and supporting the public with information they need to understand Real Estate Valuation. On this page you will find some resources that might help to further clarify the Appraisal Process. However, if you still have any questions regarding your Appraisal, please feel free to
contact AMS at (215) 364-8300
A Real Estate Appraisal is a formal thought & reporting process, which leads to an Unbiased Opinion of Value for Real Property. The person performing the Appraisal, (the Appraiser), must be State Certified or Licensed in the State where the Appraisal is made. Conventional circumstances require a Market Value to be established.
Market Value is the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.
Professional appraisers adhere to a written set of performance standards, known as the Uniform Standards of Professional Appraisal Practice (USPAP). The U.S. Congress has recognized USPAP as the generally accepted set of standards for professional appraisal practice in the United States. USPAP contains standards for all types of appraisal services including real property, personal property, business valuation and mass appraisal. USPAP compliance is also required by professional appraisal associations, client groups and by federal, state and local agencies.
A home inspector is often hired by a potential home buyer to provide a written report regarding a property's condition, including an assessment of necessary or recommended repairs, maintenance concerns or other issues. A qualified home inspector can assess the condition of a property's roof, foundation, heating and cooling systems, plumbing, electrical work, water and sewage, and some fire and safety issues. In addition, the home inspector will look for evidence of insect, water or fire damage or any other issue that may affect the value of the property. A home inspection is an examination of the property's condition, and should not be confused with a home appraisal, which determines the value of the property.
A comparative market analysis (CMA) is an evaluation of similar, recently sold homes that are near a home intended to be bought or sold. A comparative market analysis (CMA) is prepared by a real estate agent, who does not subscribe to the required Valuation Principals, and Unbiased Guidelines, (USPAP), as those of a State Certified Appraiser.