Real Estate Appraisal Checklist

Land Assessment Checklist

Company:

[your company]

Subject Property:

TBD

Checklist Prepared By:

[your name]

Property Information

  • Is the property address correctly recorded?

  • Is the legal description accurate?

  • Are the property size and boundaries clearly defined and accurate?

  • Is the property type correctly identified (e.g., residential, commercial, industrial)?

  • Is there any encumbrance or lien on the property title?

Physical Property Assessment

  • Is the property exterior visually inspected for any visible damage or wear?

  • Are the interior spaces (if applicable) checked for structural issues or needed repairs?

  • Is the overall condition of the property rated on a scale of 1-10 (1 being poor, 10 being excellent)?

  • Are any safety hazards identified?

Comparable Properties

  • Have at least three comparable properties been selected for comparison?

  • Are the chosen properties in the same neighborhood and of similar size, age, and condition?

  • Are differences between the subject property and comparables noted and accounted for in the appraisal?

Market Analysis

  • AIs the local real estate market assessed for trends and conditions?

  • Are any economic factors affecting property value considered (e.g., job market, interest rates)?

  • Are any upcoming developments in the area that might affect property value taken into account?

Valuation Methods

  • Is the appraiser utilizing multiple valuation approaches (e.g., sales comparison, cost, income)?

  • Are the selected valuation methods appropriate for the property type?

  • Is the final property value reconciled from multiple approaches?

Legal and Zoning Compliance

  • Is the property in compliance with local zoning laws and regulations?

  • Are there any legal disputes or pending issues affecting the property?

  • Is the property's use consistent with zoning regulations?

Environmental Assessment

  • Has an environmental assessment been conducted to identify any potential contaminants?

  • Are there any environmental hazards (e.g., asbestos, lead paint) that need to be addressed?

  • Is the property located in a flood zone or prone to natural disasters?

Final Report

  • Is the appraisal report complete with all relevant details and data?

  • Is the property value clearly stated in the report?

  • Has the report been reviewed and signed by a licensed appraiser?

Conclusion

  • Does the appraisal report support the estimated property value?

  • Is the appraisal compliant with all industry and regulatory standards?

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