Ferstl Valuation Services is proud to be one of the oldest and largest full-service appraisal firms in The Natural State, and we’ve been offering trusted real estate appraisals in Little Rock since 1967. J.T. Ferstl, MAI, is also an Arkansas-licensed attorney who offers real estate consulting services and expert witness testimony if you’re heading to court for an eminent domain case or any other property dispute. We’re always a phone call away when you’re ready to schedule an independent appraisal or if you have any questions!
An independent appraisal is an essential first step in any real estate transaction, and is strongly recommended any time you’re considering updating your portfolio of properties. If you’re the seller, it helps you determine a suitable listing price, and if you’re a prospective buyer, it enables you to decide whether to proceed with the investment or pass it up.
Appraisers will consider numerous factors in the valuation, including market conditions, the recent sale price of comparable properties, the property’s physical condition, its amenities, and any recent upgrades. It’s also always a good idea to review prior appraisals and look for any documented health or safety violations, and address as many of those issues as you can before scheduling a new appraisal. It’s easiest to recoup your investment in kitchen and bathroom upgrades, and a fresh coat of paint can make a significant difference if you’re on a tight budget!
The process begins with a site visit, during which the appraisers will inspect the property and take photographs. They will also need to review several documents, including the last sales price, recent land surveys, and an itemized list of renovations and improvements with receipts or invoices attached. It will significantly expedite the process if you already have the documentation ready, so be sure to ask your appraisers for a complete list of required documents before they arrive.
You’ll receive your appraisal report in approximately two weeks, which will include the current valuation, as well as any observed defects or issues that may have adversely affected the valuation. The report will also include a certification that the appraisal is an unbiased professional evaluation conducted in accordance with industry standards and guidelines.
For more information about real estate appraisal services in Little Rock, contact us online or at 501-375-1439
