New Construction Appraisals may be required for any number of purposes; however, the most requested use is in connection with construction financing. Typically an appraisal is prepared subject to completion based upon plans and specifications presented to the appraiser with the order to perform the appraisal. This type of appraisal will include what is referred to as a hypothetical condition, stating that all improvements are presumed to have been made as of the effective date of the appraisal. Usually the appraiser is requested to revisit the site when the construction is complete to verify that the improvements have been made in accordance with the plans and specifications given to the appraiser at the time the appraisal was performed. Performing a New Construction Appraisal requires a clear vision on the part of the appraiser as to what the finished product will be like when construction is complete.
We perform New Construction Appraisals anywhere in the United States with our panel of State Certified Appraisers throughout the country.