An Overview
of the Appraisal Process

Lora Keller, CertResRD3931

Purchasing real estate can be the most significant transaction many will ever encounter. Whether it’s where you raise your family, a seasonal vacation home or one of many rentals, the purchase of real property is a detailed financial transaction that requires multiple people working in concert to make it all happen.

Lora Keller Family
Lora Keller Family

Head Appraiser

Lora Keller, CertResRD3931

With many years of experience behind me, I’m prepared to handle a variety of property types. My investment in technology means faster turn times for you and lower costs for everyone. I take pride in providing personalized customer service whether I’m on the phone, sending an e-mail, speaking in person, or communicating through this website, which you can use 24/7.

To quote Aristotle – “Pleasure in the job puts perfection in the work.”

Appraisal Information
What the process is all about

The real estate agent is the most recognizable person in the appraisal process. However, the appraiser is a close second. Afer the appraiser is finished and all parties are satisfied, the lender provides the money necessary to finance the deal. The last step is for the agent to see that all aspects of the exchange are completed and that the title is clear to pass from the seller to the buyer.

Inspecting the Subject Property

Our first task at R.E. Appraisal Associates of SWFL, Inc. as Port Charlotte property appraiser's, is to inspect the property to ascertain its true status. We must physically view aspects of the property, such as the number of bedrooms and bathrooms, the location, and so on, to ensure they are present and are in the shape a typical person would expect them to be.

To double-check the stated size of the property has not been misrepresented and convey the layout of the home, the inspection often includes creating a sketch of the floor plan.

Most importantly, the appraiser looks for any obvious features ? or defects ? that would have an impact on the value of the house.

Next, after the inspection, an appraiser employs two or three approaches when determining the value of the property: a sales comparison, a replacement cost calculation, and an income approach when rental properties are prevalent.

Cost Approach

Here, we analyze information on local construction costs, the cost of labor and other elements to determine how much it would cost to construct a property similar to the one being appraised. This figure commonly sets the maximum on what a property would sell for. It?s also the least used predictor of value. The common term for this standard is “comparables.”

Analyzing Comparable Sales

Appraisers can tell you a lot about the subdivisions in which they work. They innately understand the value of particular features to the homeowners of that area. The appraiser researches recent sales in close proximity to the subject and finds properties which are “comparable” to the subject in question. Using knowledge of the value of certain items such as upgraded appliances, additional bathrooms, an additional living area, quality of construction, lot size, our associates will add or subtract from each comparable?s sales price so that they more accurately portray the features of subject property.

? If, for example, the comparable property has an extra half bath that the subject doesn?t, the appraiser may subtract the value of that half bath from the sales price of the comparable home.

In the case where the subject has something such as an extra half bath that a comparable doesn?t have, the appraiser might add the value of that bath to the comparable property. This approach to value is typically awarded the most weight when an appraisal is for a home purchase.

When it comes to knowing the true value of features of homes in Punta Gorda and Charlotte, R.E. Appraisal Associates of SWFL, Inc. is second to none.

Valuation using the Income Approach

A third method of valuing approach to value is sometimes applied when an area has a reasonable number of renter occupied properties. In this situation, the amount of income the real estate produces is taken into consideration along with income produced by neighboring properties to give an indicator of the current value.

Putting it all Together

Analyzing the data from all approaches, the appraiser is then ready to state an estimated market value for the property at hand. Note: While the appraised value is probably the most accurate indication of what a property would sell for in an open market, it probably will not be the price at which the property closes. There are always mitigating factors such as seller motivation, urgency or ?bidding wars? that may adjust the final price up or down. Regardless, the appraised value is typically used as a guideline for lenders who don?t want to loan a buyer more money than they could recover in the event they had to sell the property again. At the end of the day: An appraiser from R.E. Appraisal Associates of SWFL, Inc. will guarantee you discover the most accurate property value so you can make profitable real estate decisions.

What Others Say


You'll be happy with how personable, professional and knowledgeable Lora's approach is. I couldn't be happier that I chose Lora for my real estate needs. She's the BEST!

Laurie Vick-Hughes
Punta Gorda Homeowner


Lora did a great job for me when I needed my house appraised ASAP. Very professional and got the job done quickly!

Scott Weinberg


Lori and her associate were very professional and courteous, they were very receptive and also were very knowledgeable, overall experience with thier firm was outstanding.

Daryl Segatto
Punta Gorda Homeowner

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