Question 1

What does a residential real estate appraiser do?

Accepted Answer

A residential appraiser develops an independent, supported opinion of market value for a home. The work includes defining the assignment and effective date, inspecting and measuring the property, researching verified comparable sales, adjusting those sales for differences, reconciling the indications of value, and delivering a written report that documents the reasoning and data behind the conclusion.

Question 2

How long does a residential appraisal take in South Florida?

Accepted Answer

Most properties are inspected within 24 to 48 hours of scheduling, and reports are delivered in two to four business days after the inspection. Complex assignments — large waterfront estates, unique architecture, limited comparable data, or retrospective effective dates — can take longer because verification and analysis take longer, not because of scheduling.

Question 3

How much does a home appraisal cost in Miami?

Accepted Answer

Fees depend on property type, size, complexity, location, the intended use of the report, and the effective date requested. A standard single-family assignment costs less than a large waterfront estate or a litigation-ready retrospective valuation. Larocca Appraisals quotes every assignment in writing before work begins, so there is no open-ended hourly billing.

Question 4

What is the difference between an appraisal and a CMA?

Accepted Answer

An appraisal is an independent opinion of value developed under USPAP by a state-certified appraiser, supported by verified data and documented in a written report. A comparative market analysis is a pricing tool prepared by a real estate licensee to support a listing or offer strategy. Courts, attorneys, accountants, and fiduciaries generally require an appraisal.

Question 5

Can a Realtor perform an appraisal?

Accepted Answer

In Florida, an opinion of value described as an appraisal must be developed by a state-licensed or state-certified appraiser. A real estate licensee may prepare a comparative market analysis or broker price opinion, but those are not appraisals and may not be represented as such. Larocca Appraisals performs valuation assignments only.

Question 6

What is market value?

Accepted Answer

Market value is the most probable price a property should bring in a competitive and open market, with buyer and seller each acting prudently and knowledgeably, and with the price unaffected by undue stimulus. It assumes a reasonable exposure time, typical financing terms, and no pressure on either party to transact.

Question 7

What is USPAP?

Accepted Answer

USPAP is the Uniform Standards of Professional Appraisal Practice, the national ethics and performance framework appraisers must follow. It governs competency, independence, disclosure of the scope of work, record keeping, and how reports are communicated. Every Larocca Appraisals assignment is developed and reported in compliance with the edition of USPAP in effect at the time.

Question 8

Who owns the appraisal report?

Accepted Answer

The report is prepared for the client named in the engagement and for the intended use stated inside it. It should not be relied on by other parties or used for a different purpose without the appraiser's written consent, because scope of work and effective date are tied to the original assignment.

Question 9

What does an appraiser look for during an inspection?

Accepted Answer

The appraiser records gross living area, room count and layout, quality of construction, condition, age and effective age, updates and renovation quality, site characteristics, views, parking, and any functional issues or deferred maintenance. Photographs document each room and the exterior. Observations describe the property as it is; they are not a home inspection.

Question 10

Do you inspect every room?

Accepted Answer

For a full scope appraisal, yes — every room and the exterior are viewed, photographed, and measured. Desktop and drive-by assignments intentionally use a narrower scope, relying on exterior observation, public records, MLS data, and information supplied by the owner, and the report discloses that limitation clearly.

Question 11

How long does the inspection itself take?

Accepted Answer

A typical single-family inspection takes 30 to 60 minutes. Condominium units are often shorter. Large estates, multiple structures, waterfront sites with dockage, or properties with extensive renovations take longer because measurement, photography, and documentation of improvements all increase with size and complexity.

Question 12

What documents should I provide to the appraiser?

Accepted Answer

Helpful items include a survey or floor plan, a list of renovations with approximate dates and costs, permits and certificates of completion, HOA or condominium documents, recent assessment notices, any prior appraisal, a title or deed copy, and rent rolls or leases if the property is tenant-occupied. None are required, but each improves accuracy.

Question 13

Does the property need to be clean or staged?

Accepted Answer

No. Cleanliness and staging do not change market value. What matters is access — every room, the garage, attic hatch, outbuildings, dock, and mechanical areas should be reachable. Blocked access can force the appraiser to note an inability to observe part of the property, which weakens the report.

Question 14

Do I have to be present for the inspection?

Accepted Answer

Someone with authority to grant access must be present, but it does not have to be the owner. An agent, family member, tenant, or property manager can provide access. If you have information about upgrades or permits, leaving it in writing is as useful as being there in person.

Question 15

What affects the appraised value of a home?

Accepted Answer

Location, site characteristics, gross living area, room count, quality of construction, condition and effective age, renovation quality, views, parking, and market conditions as of the effective date all influence value. Each factor is measured against what buyers in that specific market segment have actually paid, not against a generic checklist.

Question 16

Do renovations increase appraised value?

Accepted Answer

Some do, some do not, and few return their full cost. Kitchens, bathrooms, impact windows, roofs, and mechanical systems typically show market support in South Florida. Highly personalized finishes and over-improvements relative to the neighborhood often show less. The adjustment applied must be supported by evidence from comparable sales, not by cost alone.

Question 17

How are comparable sales selected?

Accepted Answer

The appraiser looks for recent arm's-length sales that compete with the subject property: same neighborhood or condominium line where possible, similar size, age, quality, and appeal, and closed within a timeframe that reflects current market conditions. Listings and pending contracts are analyzed when the market is moving quickly.

Question 18

How is waterfront property appraised?

Accepted Answer

Waterfront analysis looks at the type of frontage — oceanfront, direct bay, canal, or lake — plus water depth, bridge and ocean access, seawall condition, dockage and lift capacity, lot width at the water, and view orientation. Comparables are drawn from properties with genuinely similar water characteristics, since substituting a canal sale for an oceanfront sale distorts the result.

Question 19

Does floor height affect condominium value?

Accepted Answer

In many South Florida buildings, higher floors sell for more because of view and light, but the pattern varies by building, line, and view corridor. The appraiser tests the relationship using sales within the same building where possible. Any floor-level adjustment must be supported by that building's own sales evidence.

Question 20

How do HOA fees and special assessments affect value?

Accepted Answer

High monthly fees reduce the price a buyer can support at a given payment level, and a pending or recently levied special assessment — common after Florida's milestone inspection and reserve requirements — affects marketability and price. The appraiser identifies the assessment, states how it was treated, and supports the treatment with market evidence.

Question 21

Does being in a flood zone reduce value?

Accepted Answer

Flood zone designation affects insurance cost and, in some markets, buyer demand, but there is no universal deduction. The appraiser compares sales inside and outside the designation within the same market segment. In parts of Miami-Dade where nearly all coastal property is in a flood zone, the effect may be minimal.

Question 22

How are luxury homes appraised differently?

Accepted Answer

Luxury assignments face thinner sales data, greater variation in quality and finish, and buyers motivated by uniqueness rather than price per square foot. The appraiser widens the geographic and time search carefully, verifies sales directly with the parties involved when needed, and explains the reasoning behind each adjustment in more detail.

Question 23

Are square footage and gross living area the same thing?

Accepted Answer

Not always. Gross living area counts finished, above-grade, heated and cooled space measured under ANSI standards. Public records, brochures, and listings often include garages, terraces, or unfinished areas. Differences between the measured area and the tax roll are common in South Florida and are disclosed in the report.

Question 24

Who can order a private appraisal?

Accepted Answer

Homeowners, buyers, attorneys, accountants, personal representatives, trustees, guardians, investors, and real estate professionals can all engage an appraiser directly. A private appraisal is not tied to a lender. The client is named in the engagement letter, and the report is prepared for that client and the intended use stated inside it.

Question 25

What is a date-of-death appraisal?

Accepted Answer

A date-of-death appraisal establishes the market value of a property as of the date the owner died, rather than today. The appraiser reconstructs market conditions as of that effective date using sales that had closed or were pending around it. Estate representatives and their advisers typically request it for settlement and reporting purposes.

Question 26

How does an estate appraisal work?

Accepted Answer

The personal representative or attorney identifies the effective date required, usually the date of death or an alternate valuation date. The appraiser inspects the property in its current condition, notes any changes since the effective date, and analyzes comparable sales from the relevant historical period. The report is written to withstand review.

Question 27

What is a retrospective appraisal?

Accepted Answer

A retrospective appraisal develops an opinion of value as of a past effective date. It is used for estates, divorce filings, tax appeals, litigation, and insurance claims. The analysis relies on data available as of that date; later market movement is excluded from the conclusion, though it may be discussed for context.

Question 28

How is an appraisal used in a divorce?

Accepted Answer

An independent valuation gives both parties and the court a supported figure for the marital residence, whether the property will be sold or one spouse will buy out the other. The effective date is set by the attorneys or the court. The appraiser remains neutral and works for the assignment, not for either side.

Question 29

Can an appraisal help with a property tax appeal?

Accepted Answer

Yes. A Value Adjustment Board petition in Florida is evaluated against the statutory assessment date of January 1. An appraisal prepared with that retrospective effective date, supported by comparable sales from the relevant period, gives the petition documented evidence. Whether to file, and the filing deadlines, are questions for your attorney or tax adviser.

Question 30

What is a pre-listing appraisal?

Accepted Answer

A pre-listing appraisal gives a seller an independent value opinion before the property goes on the market. It supports pricing decisions, sets expectations before negotiation, and gives the listing agent documented data. It is also useful for unique, luxury, or waterfront homes where automated estimates and generic comparables perform poorly.

Question 31

Do lenders accept a private appraisal?

Accepted Answer

Usually not for underwriting. Lenders must order appraisals through their own channels to satisfy independence rules. A private appraisal serves the client's own decision making — pricing, estate settlement, litigation, tax appeal, or planning — and is not a substitute for a lender-ordered report.

Question 32

Can an appraisal be used to remove PMI?

Accepted Answer

Some servicers will consider a current value opinion when evaluating a request to cancel mortgage insurance, but each servicer sets its own requirements and often orders its own report. Ask your servicer what it accepts before ordering. Larocca Appraisals can prepare a current-date valuation once you confirm the requirements.

Question 33

What areas does Larocca Appraisals serve?

Accepted Answer

Larocca Appraisals covers Miami-Dade, Broward, and Palm Beach counties, including Miami, Miami Beach, Coral Gables, Key Biscayne, Brickell, Coconut Grove, Pinecrest, South Miami, Aventura, Sunny Isles Beach, Bal Harbour, Surfside, Miami Shores, North Miami, and Homestead. Coverage is by service area rather than a walk-in office.

Question 34

How do I request an appraisal?

Accepted Answer

Send the property address, property type, purpose of the appraisal, and any effective date required through the request form, or call (305) 562-0631. You receive a written fee quote and a proposed inspection time. Work begins once the engagement is confirmed; submitting the form alone does not create an appraiser-client relationship.

Question 35

Do you offer rush service?

Accepted Answer

Yes. Rush assignments are prioritized in the schedule and typically delivered in about half the standard turnaround, for an added premium quoted upfront. Rush service shortens scheduling and production time; it does not reduce the analysis or the scope of work agreed for the assignment.

Question 36

What types of reports do you deliver?

Accepted Answer

Form-based reports are used throughout: URAR Form 1004 for single-family, Form 1073 for condominiums, Form 2055 for exterior-only assignments, Form 1004 Desktop, and Form 1025 for two-to-four family properties. Retrospective and litigation assignments use a URAR with the appropriate certification and supporting exhibits.

Question 37

How is the report delivered?

Accepted Answer

Completed reports are delivered as a secure PDF by email, within the turnaround quoted at engagement. Additional copies can be sent directly to an attorney, accountant, or agent when you authorize it in writing. Printed copies are available on request.

Question 38

What payment methods do you accept?

Accepted Answer

Check, cash and Zelle. Payment is typically collected before report delivery. The fee is fixed at engagement based on the agreed scope of work, and it is never contingent on the value reached, the direction of that value, or the outcome of any transaction or proceeding.

Question 39

Is the appraiser's fee tied to the value conclusion?

Accepted Answer

No. Tying compensation to a value, a predetermined result, or the outcome of a matter is prohibited under USPAP and would compromise the independence that makes the report useful. The fee reflects the complexity of the assignment and the work required, and it is agreed in writing before the engagement starts.

Question 40

Do you provide expert witness testimony?

Accepted Answer

Yes. Litigation-ready reports are prepared with the exhibits, workfile documentation, and certification language that review and testimony require, and deposition or courtroom testimony is available. Scheduling and fees for testimony are arranged separately from the appraisal assignment itself.

Question 41

Does Larocca Appraisals give legal or tax advice?

Accepted Answer

No. Larocca Appraisals provides independent valuation services only. Questions about probate procedure, tax filings, deadlines, assessment appeals, or settlement strategy should be directed to your attorney, CPA, or financial adviser, who can use the appraisal as supporting evidence within your matter.

Question 42

Are appraisals available in Spanish?

Accepted Answer

Consultations and inspections can be conducted in English or Spanish. Written reports are delivered in English, which is the form required by courts, attorneys, accountants, and reviewing parties in Florida. Questions about the report can be discussed in either language.

Residential appraisal questions, answered

Appraisal basics

Inspection and documents

What affects value

Reasons people order an appraisal

Working with Larocca Appraisals

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