The Appraisal Process
Every appraisal assignment is different, but the process shouldn’t feel complicated. Cedarwood keeps each engagement clear and organized from initial scope through final report delivery, with communication tailored to the needs of the client and the purpose of the valuation.
Our Process
We begin with the property, reason for the appraisal, requested effective date, intended use, intended users, and any timing or property-specific considerations. This allows us to determine the appropriate scope of work and provide a fee quote before the assignment begins.
Tell us about the assignment.
Once the assignment requirements are established, Cedarwood confirms the scope, fee, expected timing, and engagement terms. For legal, estate, trust, or retrospective matters, this is also where effective date and reporting requirements are clarified.
Confirm scope and engagement.
Depending on the assignment, this may include a property inspection, public-record research, review of relevant documents, neighborhood and market analysis, historical research, and identification of appropriate comparable market data.
Property and market research.
The property and market evidence are analyzed using the appraisal methods appropriate to the assignment. Comparable selection, adjustments, market conditions, property characteristics, and other material valuation factors are considered before the final opinion of value is reconciled.
Valuation and analysis.
The completed appraisal is delivered in the agreed-upon format with the valuation conclusion and supporting analysis. When appropriate, Cedarwood remains available to address reasonable questions regarding the report and its methodology.
Report delivery.
Does Every Appraisal
Require an Inspection?
Not necessarily. The appropriate scope depends on the assignment, available information, intended use, effective date, and property circumstances. Some assignments require a current interior and exterior observation, while retrospective or other specialized assignments may rely on historical documentation and other credible property information. The appropriate scope is determined before the assignment begins.
What Should I Have Ready?
Significant renovations/improvements
Available plans, surveys, leases, etc.
Relevant estate, trust, legal documents
Contact information for property access
Property address
Purpose of the appraisal
Requested effective date, if applicable
Relevant deadline
NOTE: You do not need to have everything figured out before contacting us. If you are uncertain about the appropriate effective date, appraisal type, or scope, Cedarwood can help identify the valuation requirements during the initial discussion.
Tell us about the property and what you need the appraisal to accomplish. We’ll review the assignment and follow up regarding scope, availability, timing, and fee.