Frequently Asked Questions About Appraisals

What is a home worth?

Ans: A home ultimately is worth what someone will pay for it. Everything else is an estimated value. One way to secure an estimated value is through an appraisal by a licensed appraiser. An appraisal is a certified appraiser's estimate of the value of a home as of a specified date. Appraisers consider such factors as square footage, age of the home, construction quality, design, floor plan, lot size, topography, view, landscaping, neighborhood, area employment, transportation, area shopping facilities, schools, and data from the current home market in the area.

Who may do real estate appraisals for a fee in the State of Indiana?

Ans: The only persons permitted to do real estate appraisals in Indiana are persons who hold licenses issued to individuals after they have qualified themselves through education, testing, and a minimum of two years and over 2000 hours of training as specified by the State.

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