Frequently Asked Questions
Shreveport - Bossier City LA
Q-Our neighbors across the street recently sold their house for sale by owner (fsbo) in 3 days and their house is not as nearly updated or we think is as big as ours. We want to sell our home ourselves also; can you tell us how much more our house is worth than our neighbors?
A- To help you with your inquiry, I can perform an appraisal analysis which will develop an opinion of current market value for your property. During this process, I will find out what other homes in your neighborhood are selling for and ones that have recently sold (your neighbors home as well) then comparable those properties to your home. I then will be able to give you an appraisal that will determine the value of your home for your valuation purposes.
Q-We have a closing for a property that just got re-scheduled for later this week however you received the appraisal request from us yesterday? Can you get the appraisal to us immediately?
A- Fortunately, as soon as we receive an appraisal request, we begin all data research and attempt to make an appointment to inspect the property the same day. Please check your email as we provide status updates daily. We must check the appointment time, degree of analysis and see our schedule, and then we can give an answer when we can complete the assignment.
Q-We have a some clients that want to buy new construction in a subdivision that has a lot of newly custom built homes, however, these custom built homes were not sold via MLS so we do not have any idea what the sales prices for this subdivision are, can you help?
A- The process that must take place is performing a subdivision analysis, which my company does. We can track all homes that were sold by builder to buyer (no MLS) by a multitude of data sources we track daily. We also have good relations with contractors and developers so we call them frequently for information. Then we analyze all homes that sold in the subdivision and compare those to other new homes from other competing subdivisions.
Q- My mom just died and my sister and I do not live in town anymore. Can you do a succession appraisal for us?
A- This is an analysis we can help you with as we have experience in this valuation type. After we have a brief consultation, you will need to provide us a letter/email with your intentions again, all contact information and your mother’s passing date.
Q- What areas do you cover, as we are looking to get some rural properties appraised?
A- Unfortunately, we do not appraise rural properties. Our strength lies in the Shreveport-Bossier Metro area (see web page for specific coverage areas) only, because we constantly valuate properties in these areas. An appraiser must only appraise homes in areas where his/her strength, knowledge and expertise are, as residential values can vary greatly from each specific market segments.
Q- Were upset with the appraisal we received a few months back for refinance, as the appraiser did not have much knowledge of our subdivision, was not professional at all and the comparable sales used were not even in the same area. Now we either want to remodel or buy another home in the subdivision but don’t really know what our home is honestly worth. This is a huge decision for us. What can you provide that the other appraiser cant?
A- Sorry to hear your previous appraisal experience was not a good one. I would be glad to assist you as I am an SRA with the Appraisal Institute, which is an Appraisal Organization that less than 1% of all residential appraisers belong to, as we adhere to stricter guidelines and education bench-marks .I’ve also been in the business for over 15 years. That being said I will be happy to meet with you, find out more about your property, talk about your intentions, explain you my full services and from there we can decide on a plan of action.
Q- You recently did an appraisal for our client 2 months ago and now he is getting his financing with us, can you please send us that appraisal as they said they paid for it?
A- Transferring appraisals is not allowed, (readdressing appraisals as per USPAP). You must order a new assignment which then it will create a new client-appraiser relationship. After that we can discuss our new scope of work and payment for this new analysis.
Q- us a copy of the appraisal as soon as you finish it?
A- The appraiser’s main obligation is to their client (which is the one ordering the appraisal) which is your Lender. The appraisal is often ordered by a 3rd party to maintain their independence. However, when the appraisal is complete, you may request a copy from the Lender.
Q- Should I expect a buyer's appraisal and seller's appraisal to yield equal values?
A- Appraisal reports by different appraisers, on the same property, are typically considered equal. This is a big misconception as every appraisal analysis can indeed vary greatly primarily due to the appraiser’s knowledge, expertise and quality of analysis performed on the subject property. There are many components that factor in the valuation of a residential real estate property, and failure to properly address these components could lead to different and sometimes inappropriate market value conclusions. Thus no one appraisal is the same, and be sure to diligently read the completed appraisal; and more importantly, the qualifications of the appraiser who is doing the report for you as well.
Q- Your service list is extensive - are there any appraisal services you don't provide?
A- Multi-family appraisals, mobile/manfactured homes, land appraisals, rural appraisals, mass appraisals -all due to the lack of data collection for those services.
Q- Your coverage of Caddo Parish and Bossier Parish is extensive. Are there any nearby areas you don't cover?
A- We do not cover Webster and Red River Parishes
At Devereux Appraisal Co., LLC, we believe the difference should be obvious from the start. Use our fast contact form or call or e-mail us for fast disposition of your Shreveport and Bossier City area appraisal needs.