The Process | Anthem Valuation | Maple Grove, MN

Our Process

The appraisal process for most typical homes is a three step process. Inspection, research, and completion of the appraisal report. The finished product is usually about a 20 page pdf document. We often email and/or mail the completed report out two to three days after inspection. If a report is needed sooner, please feel free to discuss this with us at the time of engagement.


Appraisal Process | Step One | Anthem Valuation MN

The inspection is where an appraisal starts

The first step is to inspect the property to determine its true status. We must see features first hand, such as the number of bedrooms and bathrooms, the location, and so on, to ensure they truly are present and assess the homes condition and quality in comparison to the similar homes in the subjects’ area. The inspection often includes a sketch of the house, ensuring the square footage is proper and conveying the layout of the property. Most importantly, we will look for any obvious features such as recent updating, defects, or renovations - that would affect the value of the property.


Appraisal Process | Step Two | Anthem Valuation MN

Paired Sales Analysis

Appraisers get to know the neighborhoods in which they appraise. The majority of the appraisal reports we complete are based mostly on what homes in the subjects’ area are selling for. We research recent closed sales transactions and current listings in close proximity to the subject and find properties which are 'comparable' to the home in question. By assigning a dollar value adjustment to certain items such as condition, quality, bedrooms, bathrooms, garage stalls, lot size, favorable or unfavorable location appeal, finished basements, fireplaces, pools, decks, patios, or porches, we adjust the comparable properties so that they are more accurately in line with the features of subject property.

  • For example, if the comparable property has a fireplace and the subject doesn't, the appraiser may subtract the value of a fireplace from the sales price of the comparable home.
  • If the subject property has an extra half-bathroom and the comparable does not, the appraiser might add an amount to the comparable property.

After all differences have been accounted for, the appraiser reconciles the adjusted sales prices of all the comparables and then derives an opinion of what the subject could sell for.


Appraisal Process | Step Three | Anthem Valuation MN

Completion of the appraisal report

The appraisal report itself is the visual evidence of the opinion of value and support of the research that has been completed. Our Appraisal reports are all inclusive including a comparative market analysis detailing the possible comparables that existed as of the effective date of the appraisal report, the search parameters of the possible comparables, and an explanation of current market conditions specific to each subject property.


Contact us today with any questions you might have and also check out our Praise page to see what others are saying about Derek Rizzo and Anthem Valuation.

Derek was great, very professional, and provided our appraisal in a very timely fashion. I would highly recommend him!