Henkaline & Associates, Inc.





Services Your Rights Reasons
About Us
  Understanding Appraisals




What is an appraisal?
An appraisal is an unbiased estimate of the nature, quality, value, or utility of an interest in or aspect of, identified real estate and related real property.

The professional real estate appraiser performs a variety of functions and services; that provide different types of value and consults with decisions about real estate.

What is a relocation appraisal?

A relocation appraisal is an estimate of the most probable sales price of your home in the current market within a reasonable time frame based upon the Direct Sales Comparison Approach to value. A reasonable marketing time depends upon your immediate market area, but the Employee Relocation Council suggests a reasonable marketing period to be up to 120 days.

Generally the relocation companies require two appraisals to estimate this "maket value". The average of these estimates are used to arrive at the market value for relocations purposes. If there is a large difference in the two values a third appraisal may be required.

If you are required to obtain a relocation appraisal or have any questions about the process, please call our office and one our relocation specialists will be glad to answer any questions or explain the process.


Understanding Your Rights
In the residential mortgage appraisal process, the homeowner should understand that the appraiser's client is not the homeowner, but rather the lender or financial institution that hired the appraiser. The appraiser has no obligation to provide a copy of the appraisal to the homeowner - even though they may be directly or indirectly paying for the appraisal. The appraiser is bound to professional standards and a code of ethics, which does not allow the appraiser to release the appraisal to any other party other than the defined user (client) of the appraisal.

But the homeowner should know that under the Equal Credit Opportunity Act, the lender must provide a copy of the appraisal report upon the homeowner's written request. If the homeowner is dissatisfied with any information contained in the appraisal report, they should contact the lender immediately.



Henkaline & Associates, Inc. • 5791 Far Hills Avenue • Dayton, OH 45429
Phone: (937) 436-7804 • Fax: (937) 436-7818 • Email: info@henkaline.com