Appraisal: New Construction

Plans/Specs Appraisal

Used for new construction to review plans and specifications to determine estimated market value
Provides general description of subject's exterior, foundation, basement and insulation
Calculates room count and actual square footage for GLA
Notes condition of improvements, depreciation, repairs needed and quality of construction
Provides sales comparison analysis grid with indicated value by sales comparison approach

Most comprehensive collateral assessment product offered by LSI
Considers market value trends, supply and demand and marketing times
Provides indicated value by cost approach
Provides a sales comparison analysis grid with indicated value by sales comparison approach
Detailed comparable grid includes fence, pool, porch, patio, deck, garage/carport, heating/cooling and functional utility
Quantitative adjustments to comparable sales
Estimates a specific market value

Update to a previous appraisal that was prepared subject to completion of repairs or incomplete items
Notes items completed or still need to be completed since time of original appraisal
Same appraiser performs reinspection who completed original appraisal report
Allows lender to ascertain the current construction status of subject property without incurring the cost of another appraisal