THE SHORT ANSWER
A two-to-four unit residential appraisal develops an opinion of value for a defined purpose and effective date. The analysis considers the property, relevant comparable sales and other market evidence appropriate to the assignment; income information may be relevant depending on scope.
What the analysis may include
The appraiser reviews the property’s units, layout, condition, site and relevant comparable sales. For some assignments, income and expense information may also be relevant. The agreed scope determines which analyses and report details are appropriate.
Information investors and owners can prepare
Share the address, unit count, intended use and deadline. If available and relevant, provide rent rolls, leases, operating expenses, improvement details and access information. Do not assume every assignment uses every item.
Set expectations for the assignment
A purchase, private valuation or lending assignment may have different requirements. Lenders control their appraisal ordering process. Contact Reddy Appraisal LLC to discuss the property and receive a scope-specific quote.
COMMON QUESTIONS
Frequently asked questions
Can an appraisal cover a duplex, triplex or fourplex?
Reddy Appraisal LLC lists two-to-four unit residential properties among its appraisal services. Contact the team with the property location and intended use to confirm the appropriate scope.
Should I provide rent and expense information?
If the assignment’s intended use makes income information relevant, it may help the appraiser understand the property. The appraiser will confirm which documents are useful.
Does an appraisal provide investment advice?
No. An appraisal develops an opinion of value for a defined use. It is not a recommendation to buy, sell, lend or invest.