Our Appraisal Services

Comprehensive residential real estate appraisal services tailored to your needs

Expert Appraisal Services in Central Indiana

SJ Patterson Company provides accurate, reliable residential real estate appraisals for a variety of purposes. Our comprehensive approach and attention to detail ensure that you receive valuations you can trust, delivered by professionals with deep knowledge of the Central Indiana market.

Residential Appraisal

Standard Residential Appraisal

Our comprehensive standard residential appraisal is our most common service, providing a detailed valuation of single-family homes, condominiums, and townhouses.

What's Included:

  • Thorough property inspection (interior and exterior)
  • Detailed measurements and floor plan sketches
  • Evaluation of property features, condition, and improvements
  • Analysis of comparable sales in your neighborhood
  • Assessment of local market trends
  • Comprehensive written report with supporting data
  • Clear explanation of the valuation conclusion

Who Needs This Service:

Standard residential appraisals are typically needed for:

  • Mortgage financing and refinancing
  • Home equity loans or lines of credit
  • Private sales transactions
  • Insurance purposes
  • Personal knowledge of property value

Our typical turnaround time for standard residential appraisals is 3-5 business days, and we can accommodate rush requests when possible.

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FHA/VA Appraisal

FHA/VA Appraisals

FHA and VA appraisals follow specific guidelines required for government-backed loan programs. Our appraisers are FHA/VA approved and experienced with these specialized requirements.

Special Requirements:

FHA/VA appraisals differ from standard appraisals in several important ways:

  • More stringent property condition requirements
  • Specific safety and livability criteria
  • Additional inspection points (handrails, peeling paint, etc.)
  • Specialized reporting format
  • Compliance with HUD/VA guidelines

Benefits:

Our experienced FHA/VA appraisers help ensure:

  • Smooth loan approval process
  • Identification of potential property issues early
  • Complete compliance with government requirements
  • Clear explanations of any required repairs or conditions

Our FHA/VA appraisals are accepted by all lenders offering these loan products, and we maintain up-to-date knowledge of changing guidelines and requirements.

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Estate Appraisal

Estate & Divorce Appraisals

Legal situations require specialized appraisal expertise. Our estate and divorce appraisals provide accurate valuations for situations involving estate planning, probate, or divorce proceedings.

Estate Appraisals:

We provide specialized appraisal services for:

  • Date of death valuations for estate tax purposes
  • Establishing fair market value for estate division
  • Supporting documentation for probate proceedings
  • Retrospective valuations for estates
  • Tax planning and compliance

Divorce Appraisals:

Our divorce appraisal services include:

  • Impartial, third-party property valuations
  • Court-ready reports for equitable distribution
  • Expert testimony when required
  • Clear documentation to support property settlements

We approach these sensitive situations with professionalism, confidentiality, and attention to the specific legal requirements involved. Our reports are designed to stand up to scrutiny and provide clear, supportable valuations.

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Pre-Listing Appraisal

Pre-Listing Appraisals

If you're selling your home, particularly without a real estate agent, a pre-listing appraisal can give you a significant advantage in setting the right price from the start.

Benefits for Sellers:

  • Establish a realistic asking price based on professional analysis
  • Identify property strengths to highlight in marketing
  • Recognize potential issues that might affect value
  • Provide objective, third-party validation of your asking price to potential buyers
  • Avoid the common pitfalls of overpricing or underpricing

Especially Valuable For:

  • For Sale By Owner (FSBO) properties
  • Unique or difficult-to-value homes
  • Properties in changing markets
  • Homes with significant improvements or updates

A pre-listing appraisal can help you sell faster and with greater confidence, as you'll have professional documentation to support your asking price. It can also be a powerful negotiating tool when dealing with potential buyers.

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Additional Specialized Services

Beyond our core offerings, we provide several specialized appraisal services

Appraisal Review

Professional review of existing appraisal reports to verify accuracy, identify potential issues, or provide a second opinion. Particularly valuable when you have concerns about an appraisal's conclusion or methodology.

Appraisal Appeals

Assistance with reconsiderations of value when you believe an appraisal is inaccurate. We provide well-documented appeals based on additional comparable sales or correction of factual errors in the original report.

Relocation Appraisals

Specialized appraisals for employee relocations, meeting the specific requirements of relocation companies and employers. These appraisals typically follow ERC (Employee Relocation Council) guidelines.

Investment Property Appraisals

Detailed valuations for residential investment properties, including analysis of rental income potential, market comparables, and other factors specific to investment real estate.

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Our Appraisal Process

What to expect when working with SJ Patterson Company

Initial Contact

Contact us via phone, email, or our website to discuss your appraisal needs. We'll ask about the property, the purpose of the appraisal, and your timeframe.

Scheduling

We'll schedule a convenient time for the property inspection, provide a quote for our services, and explain what to expect during the appraisal process.

Property Inspection

Our appraiser will visit the property to conduct a thorough inspection, taking measurements, photos, and notes on the property's features and condition.

Research & Analysis

We research comparable sales, analyze market trends, and compile all necessary data to determine the property's value using standard appraisal methodologies.

Report Generation

We prepare a comprehensive appraisal report that includes our valuation, supporting data, property details, and explanations of our methodology.

Quality Review

Before delivery, every report undergoes a thorough review to ensure accuracy, completeness, and compliance with professional standards.

Delivery

We deliver the completed report in your preferred format (electronic or hard copy) and are available to answer any questions about our findings.

Frequently Asked Questions

Common questions about our appraisal services

How much does an appraisal cost?

Appraisal fees vary based on property type, size, location, and complexity. Standard residential appraisals typically range from $350-$500. We provide exact quotes after discussing your specific needs.

How long does an appraisal take?

The on-site inspection usually takes 30 minutes to 2 hours, depending on property size and complexity. The complete process, including research and report preparation, typically takes 3-5 business days from inspection to delivery.

Do I need to be present for the appraisal inspection?

It's not mandatory, but it can be helpful. You'll need to ensure access to the property. If you can't be present, arrangements can be made for a representative to provide access.

What should I do to prepare for an appraisal?

Ensure the appraiser has access to all areas of the property. Basic cleaning and decluttering helps, but major renovations aren't necessary. Have documentation ready for recent improvements or unusual features.

What information do you need to provide a quote?

Property address, type (single-family, condo, etc.), approximate square footage, purpose of the appraisal, and any unique features or challenges of the property.

Can you explain the different appraisal approaches?

We typically use three approaches: 1) Sales Comparison (comparing to similar sold properties), 2) Cost Approach (estimating replacement cost minus depreciation), and 3) Income Approach (for investment properties). The specific approaches used depend on the property type and purpose of the appraisal.

Ready to Request an Appraisal?

Contact SJ Patterson Company today to discuss your residential real estate appraisal needs. We're here to provide accurate, professional valuations throughout Central Indiana.

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Or call us directly at (317) 555-1234

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