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FREQUENTLY ASKED QUESTIONS

Answers to Common Questions About Residential Property Appraisals

At Team Appraisal, we understand that homeowners and professionals often have questions about the appraisal process. Below you will find clear, helpful answers to the most common inquiries we receive.
If you still need assistance, feel free to call us at (248) 792-2333.

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GENERAL APPRAISAL QUESTIONS

 

1. What is a home appraisal?

A home appraisal is a professional, unbiased estimate of a property's market value, conducted by a certified residential appraiser.
It is used for buying, selling, refinancing, estate settlement, divorce, tax assessment, and many other real estate purposes.

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2. Why do I need an appraisal?

You may need an appraisal for:

  • Mortgage lending or refinancing

  • Pre-listing or pre-purchase decisions

  • Divorce or legal disputes

  • Estate and probate settlement

  • PMI removal

  • Property tax appeals

  • Bankruptcy or financial planning

  • Trust, litigation, or insurance needs

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3. How long does an appraisal take?

The property inspection usually takes 30–45 minutes, depending on size and complexity.
The full appraisal report is typically delivered within 24–72 hours after the inspection.

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4. How much does an appraisal cost?

Fees vary based on property type, complexity, and location.
Contact us at (248) 792-2333 or email info@teamappraisal.com for an exact quote.

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PROPERTY INSPECTION QUESTIONS

 

5. Do I need to prepare anything for the inspection?

You can help the process by ensuring:

  • All rooms are accessible

  • Pets are secured

  • Improvements or upgrades are listed

  • Any HOA or property documents are available
    If you don’t have these items, that’s perfectly fine—the appraiser will still complete a thorough inspection.

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6. How long is the appraiser at my home?

Most inspections take 30–45 minutes, but large, unique, or complex homes may take longer.

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7. Does the appraiser check the roof, attic, or crawl space?

The appraiser performs a visual inspection of accessible areas.
They do not typically enter attics or crawl spaces unless required by the assignment type and safely accessible.

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VALUE & REPORT QUESTIONS

 

8. What determines my home’s value?

Your home's value is based on:

  • Comparable recent sales

  • Market trends

  • Location and neighborhood

  • Property size and condition

  • Quality of construction

  • Features and amenities

  • Land size

  • Updates and improvements

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9. Do improvements increase my home’s value?

Some do — such as kitchen updates, bathrooms, roofs, HVAC, windows, and additions.
However, not all improvements add dollar-for-dollar value.
We can help explain which upgrades impact value most in your neighborhood.

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10. Will an appraisal affect my taxes?

Not typically.
Appraisals for refinancing, PMI removal, divorce, or estate planning usually do not change assessed property tax values.

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11. Can I challenge an appraisal if I disagree?

Yes.
You can request a reconsideration of value by providing:

  • Strong comparable sales

  • Missing information

  • Relevant facts or corrections

We are happy to review and clarify any part of your report.

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LENDING & NON-LENDING QUESTIONS

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12. Is an appraisal required for refinancing?

Most lenders require an appraisal to determine current market value before approving a refinance.

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13. What is a non-lender appraisal?

A non-lender (private-use) appraisal is used for:

  • Estate/probate

  • Divorce

  • Tax appeals

  • Pre-listing

  • Pre-purchase

  • Trusts

  • Litigation

  • Financial planning

These reports are tailored specifically to your needs.

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14. Do you appraise commercial properties?

No.
Team Appraisal specializes exclusively in residential properties, including:

  • Single-family homes

  • Condos

  • Townhomes

  • 2–4 unit residential properties

  • Luxury homes

  • Residential land

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AREA & COVERAGE QUESTIONS

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15. What areas do you serve?

We serve dozens of Michigan cities including:
Troy, Rochester Hills, Sterling Heights, Birmingham, Bloomfield Hills, Royal Oak, Novi, Livonia, Detroit, Ann Arbor, Clinton Township, Macomb, Shelby Township, and many more.
See our Service Areas page for the full list.

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SCHEDULING & PAYMENT QUESTIONS

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16. How do I schedule an appraisal?

Call us at (248) 792-2333 or email info@teamappraisal.com.
We will gather basic property details and set up an inspection at your convenience.

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17. When is payment due?

For private-use (non-lender) assignments, payment is typically due upfront or at the time of inspection.
For lender assignments, payment procedures vary by lender.

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18. Can I be present during the appraisal?

Yes.
You are welcome to accompany the appraiser during the inspection or simply provide access and return later.

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STILL HAVE QUESTIONS?

We’re here to help. Contact us anytime.

(248) 792-2333
info@teamappraisal.com
Troy, Michigan

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