Services Provided

PMI
This is similar to mortage appraising. When a buyer did not have sufficient down payment to buy a property, but with good credit could obtain a second mortgage known as Purchase Money Insurance, that second mortage was at a higher rate of interest. After a period of ownership the property may have appreciated sufficiently that the second mortgage was no longer needed, and the appraiser is hired to determine if that is the case. If true, the homeowner saves money on a lower overall interest rate.

DIVORCE
These appraisals often become contentious. Each party often will hire an appraiser and the resulting values may differ significantly reflecting the needs of each side. The appraiser must be prepared to testify in court and to support his/her appraisal. I have appeared in court many times and have a strong record of defending my work.

INTERNAL REVENUE SERVICE
These appraisals are usually prepared for the homeowner to submit to the Internal Revenue Service to determine tax liability. It may involve an estate settlement from an inheritance. It may involve a holding period with both a present value and a starting value when the property came into the present ownership. The oldest start value that I have been requested to provide was from 1963 for an estate that was selling the property in the present. It may also involve a charitable donation, either in entirety or a portion such as a conservation easement. There are very strict rules for charitable donations, and the IRS will reject the tax return and may charge penalties if the appraiser does not follow those rules exactly.

EMPLOYEE RELOCATION
This is a service provided by some businesses, either as part of hiring or as relocating an employee, to assist that transferee in moving and buying a similar home at the new location. The goal of the relocaction company is to purchase the property at a price that reflects a re-sale price within a specified time period. The appraiser is also expected to accurately assess needed repairs and redecorating to facilitate that expected re-sale.

BUYER OFFERS AND LISTINGS
These appraisals are prepared for individuals only. A buyer might be unfamiliar with local values and request an appraisal prior to making an offer to buy, particularly if the property appears to be overlisted. A property owner might want additional input, particularly if several brokers have indicated widely differing list prices, prior to choosing a listing agent and list price.

PROPERTY TAX ABATEMENTS
Where a property owner believes that he/she is unfairly taxed, there is an appeal process at the town level (at least here in New Hampshire). There is a strict format that must be followed in the determination of market value, and the appraiser may be requested to appear in either superior court or before the Board of Land and Tax Appeals to defend the appraisal if the appeal is rejected at the town level.

EASEMENTS
Other than conservation easements which are discussed above (IRS). Easements are the granting of rights of use by a property owner to another. Examples might include access to an otherwise landlocked lot, but more often involves a taking for the public good such as a powerline to be built across the property or loss of some frontage due to widening a existing road. These can become complex assignments and usually involve two appraisals, one before the taking and one after, to determine the loss of value to the property owner by the taking.

INVESTMENT/COMMERCIAL
This is a broad range of property types, and could encompass any of the above types of appraisals. Some I would accept and others I would decline for reasons of competence, and might include geographical, property type or complexity reasons.

Large tracts of vacant land, or land with approved subdivision potential. The first are generally without great complexity and can be performed fairly quickly. The latter are highly complex and time consuming. I have done several, I've enjoyed doing them as a welcome break from the more repetitious residential appraisal, and I would be happy to discuss a potential assignment with you.

Multifamily up to four units is considered Residential Income and is fairly simple to perform. The difficult area is the analysis of comparable rental properties, and failure to do this easily leads to erroneous values. I have seen many examples of appraisers letting the software do the work and have yet to see any software program that can do this without analytic intervention by the appraiser.

Large apartment buildings, industrial, retail and other properties are within my capability, but some may involve more of a learning curve due to unfamiliarity with the location or the property type than the client can reasonably be expected to pay. I have appraised various properties of all three types, and the mathmatics involved is very easy for me. The question would be my familiarity with the necessary market data and the time needed to collect it, and the level of complexity and detail in the final report. I would suggest that you call me on the telephone and after some discussion I will tell you honestly if I will take the assignment or I will recommend another and more qualified appraiser.