APPRAISAL RESOURCES

Residential Appraisal Frequently Asked Questions

Whether you need an appraisal for a divorce, inherited property, estate, trust, legal matter, or simply need an independent opinion of your home's value, it's normal to have questions about the process.

Below you'll find answers to some of the most common questions we receive about residential real estate appraisals, including costs, timelines, private appraisals, retrospective valuations, and what to expect.

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  • A residential real estate appraisal is an independent opinion of a property's value developed by a licensed or certified real estate appraiser. The appraiser analyzes the property, relevant market activity, comparable sales, location, condition, quality, site characteristics, and other factors that may influence value.

  • Yes. Many appraisals are completed privately and have nothing to do with obtaining a mortgage. Private appraisals may be needed for divorce, estates, inherited property, trusts, tax purposes, property buyouts, litigation, financial planning, and other situations where an independent property value is needed.

  • Online home-value estimates are automated calculations based on available data. A professional appraisal involves property-specific research and analysis by a licensed or certified appraiser. This can be particularly important for properties with renovations, acreage, views, ADUs, custom construction, unique locations, or limited comparable sales.

  • Appraisal fees depend on the property, location, complexity, purpose of the appraisal, effective date, reporting requirements, and requested turnaround time. Contact Nimbus Valuations with the property address and reason for the appraisal, and we can provide a quote before beginning the assignment.

  • Turnaround time varies depending on the property and assignment. A typical residential appraisal may require less research than a complex luxury property, acreage property, multiple-property assignment, or retrospective appraisal. Expert anywhere from 1-2 weeks. If you have an attorney, tax, estate, or other deadline, let us know when requesting the appraisal.

  • Yes. Nimbus Valuations provides independent residential appraisals for divorce, property division, spousal buyouts, retrospective valuations, and other family law matters. We work with homeowners as well as family law attorneys, mediators, and other professionals.

  • A date-of-death appraisal determines an opinion of a property's value as of the date the property owner passed away. It is a type of retrospective appraisal and may be requested in connection with inherited property, estates, trusts, tax basis considerations, and other estate-planning or administration matters.

  • Yes, in many cases. This is known as a retrospective appraisal. Rather than determining today's value, the appraiser researches the property and market as they existed around a specified historical effective date. Retrospective valuations may be needed for divorce, estates, inherited property, tax matters, trusts, and litigation.

  • Yes. Nimbus Valuations works with attorneys, CPAs, trustees, professional fiduciaries, executors, mediators, and other professional advisors who need independent residential valuations for their clients. We can coordinate directly with the appropriate parties based on the requirements of the assignment.

  • Item descriptionStart with the property address and the reason you need the appraisal. If applicable, it's also helpful to provide the required valuation date, attorney or professional contact information, relevant deadlines, and information about significant property improvements. If you're unsure what type of appraisal you need, contact us and we can discuss the assignment requirements before getting started.