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A Member of : 
 Relocation appraisal
Time is money. This is never more true than when you or your company need an appraisal of your "old" home when you're relocating to a new area for work.
When you put your "old" home on the market and take advantage of your employer's relocation assistance, you're interested not in the "fair market value" of the home, but its anticipated sales price, typically as soon as possible -- usually not to exceed 120-180 days.But the need for speed doesn't mean the relocation appraisal is a more simple matter than your average lending/mortgage appraisal. Quite to the contrary. It entails special expertise, training and skills on the part of the appraiser or appraisal firm you select.
When we perform a relocation appraisal, we consider recent closed sales but also competing listings in the area as well as pending sales. We offer a forecast of the likely sales price you can rely on, considering the dynamics of the neighborhood at the time of the relocation. All relocation appraisals are reported on the standard ERC Residential Appraisal Report form, the industry's accepted relocation appraisal format.
If you're a relocation services company in need of a local appraiser, look no further.Our professional relocation appraisal service is backed by our superior service, turn time, and knowledge of the market. Whether you're an employee or a service company seeking a relocation appraisal professional, please browse our website to learn more about our qualifications, expertise and services offered.
What is a Relocation Appraisal?
The value of your home never remains the same. Its value today is probably not the same as when you bought it, and it probably wont be the same a year from now. As a result, your employer or a relocation company may obtain one or more appraisals to assess the anticipated sales price of your home in connection with your move. Sometimes an average of two or more appraised values is utilized (depending on the companys policy) and an additional appraisal might be undertaken if there is any significant discrepancy.
A relocation appraisal is an estimate of the anticipated sales price at which your home will sell in the current market within a reasonable length of time, based on what appraisers call the sales comparison analysis. The appraiser inspects your home, analyzes the factors that influence the market, and reaches a value conclusion.
Marketing time depends on the conditions in your community, but the definition of anticipated sales price indicates "a reasonable marketing period, not to exceed 120 days and commencing on the date of appraisal (inspection), is allowed for exposure on the open market."
The Differences Between
A Mortgage Appraisal and A Relocation Appraisal
Mortgage Appraisal
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Relocation Appraisal
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Intended Use: Facilitate Mortgage Lending |
Intended Use: Facilitate Corporate Relocation |
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Purpose: Estimate Market Value |
Purpose: Estimate Anticipated Sales Price |
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Market Value:
Exposure Time Precedes Date of Appraisal |
Anticipated Sales Price:
Marketing Time Occurs After Date of Appraisal |
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Long-Term Decision-Making
(up to 30 years) |
Short-Term Decision-Making
(up to 120 days) |
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Uniform Residential Appraisal Report
Comprehensive Analysis |
E-R-C Residential Appraisal Report
Expanded Analysis of Market Data |
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Identifies Category for "Design" and "Appeal" |
Emphasizes "Appeal" and "Decor" as Critical Items for Consideration |
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Financing: Cash Equivalency - No Adjustments for Normal Seller Costs |
Financing: Cash Equivalency Adjustments for Sales and Financing Concessions |
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Retrospective Analysis - No Forecasting |
Prospective Analysis - Forecasting |
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Normal Marketing Time -(without limit) |
Reasonable Marketing Time - (not to exceed 120 days) |
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Requires Closed Sales |
Requires Closed Sales And Competing Properties And Considers Pending Sales |
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