How to Get an Appraisal

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By eHow Contributing Writer

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You might need an appraisal for a home, property, jewelry, antiques or a business opportunity. How do you go about getting an appraisal? Unless you are an expert in this field, you should consider hiring a second or third appraiser to perform an appraisal. An appraisal is, after all, one person’s opinion of the value of your item or property. The process is generally the same regardless of the item or investment being appraised.

Difficulty: Easy

Instructions

Step 1

Figure out what you want to have appraised. Some common reasons to need an appraiser is when you are selling a house, doing an inventory of prized jewelry or considering selling antiques.
Step 2

Ask friends, family and co-workers for references for an appraiser that specializes in your type of property.
Step 3

Contact trade groups, licensing boards and the local Chamber of Commerce to find out who specializes in what you want appraised.
Step 4

Let your fingers do the walking if you can’t get a reference. The phone book offers plenty of appraisers to choose from.
Step 5

When you first contact the appraiser, ask them to specify their rates.
Step 6

Ask about the timelines as well. Specifically ask how long the appraisal will take, how it will be performed and when the report will be ready.
Step 7

Clean and repair the property before seeing the appraiser.
Step 8

Arrange an appointment with the appraiser if necessary. Be on time.
Step 9

Request a completed report before full payment. You may be asked to make a partial payment upon appraisal but a true professional will wait until they have completed their research and valuation before submitting a bill to you.

Tips & Warnings

If an appraiser offers to buy your item after the assessment, get a second opinion on the value before making any deals. They may have lowballed your appraisal in order to swindle it away from you.
Be vague about your inexperience with the item. Don’t confess your naivety about the property or business venture, just ask for their opinion.
Appraisers, especially those that specialize in business venture appraisals, should be independent, neutral parties. Avoid any that are directly connected to a particular venture.
Be prepared to pay an appraisal fee in proportion to the approximate value of the property.
A jewelry appraisal will usually cost under $100.
Antique appraisals will typically cost $75 to $500, depending on the type of antique.
Home appraisals will usually cost between $250 and $600, based on the complexity of the house and property.
Business appraisals will often cost $2,000 to $10,000, depending on the size and scope of the report.
Don’t stay with an appraiser you don’t feel comfortable with. Their opinion of you and your opinion of them may influence their professional opinion of the value of the item.
Don’t tell the appraiser what you think the value is. Let them form their own opinion without influence.
Don’t shortchange yourself on a business deal by foregoing the venture appraisal. Just because the outstanding loans exceed $100,000 doesn’t mean that’s what the business is really worth.