By Paul Johnson
When an appraisal is completed more times than not the results will be reported on a form. The actual appraisal is the data file and notes of the appraiser
and the results and reconciliation are reported verbally or on some type of report.
Form reports are an efficient way to relay the information to the Reader/User of the report as it is layed out in a very organized format. If a User receives many appraisals of a similar type, say residential single family home for financing, then
items and results are illustrated the same way in each report making their life that much easier. FNMA and FREDDIE
MAC typically create the reports they prefer or require to see when an appraisal is to be used in a financial transaction that their agencies may back financially. Many software companies which provide report writing software to appraisers (ie Alamode, ACI)
will have several of their own forms to use. Many times these forms are used when appraising for individual in the case when financing is not the end use. These forms are typically refered to as GP or GPAR forms. These acronyms represent "General Purpose"
reports. It is common to see these in the use for Bankruptcy Appraisals, Divorce Appraisals, Pre Listing Appraisals, Estate Appraisals, and when individuals are just inquiring
about the value of their home.
In most every case a professionally licensed appraiser is going to provide you with a complete and accurate report. Many times the more experienced the appraiser the better, but not in all cases. It is a good idea to interview the firm or appraiser
a bit prior to scheduling. You can read reviews and get referrals from friends and real estate agents that service the market. Here a just a few things to think about when considering hiring an appraiser:
Hope this is helpful. If you have any further questions give me a call.