What Matters Most in a Purchase Appraisal
In a purchase transaction, there’s rarely room for delays or uncertainty. The appraisal plays a critical role—not just in determining value, but in supporting the overall timeline, documentation quality, and communication between parties.
CMP Appraisal’s mission is to consistently lead the way to a smoother, more successful appraisal process in purchase situations:
1. Strong Local Market Knowledge
Understanding the local market goes far beyond pulling sales from MLS. An effective appraisal considers:
Subtle neighborhood differences
The impact of location-specific factors like flood zones or school districts
Seasonal market trends and current supply conditions
This level of familiarity leads to more appropriate comparables, well-supported adjustments, and fewer surprises downstream.
2. Reliable Turn Times
Purchase transactions tend to follow tight schedules. That means appraisals need to be completed on time—with early communication if delays are expected. CMP’s process includes:
Prompt scheduling
Clear status updates
Predictable report delivery
...helps ensure everything stays on track from start to finish.
3. Clear, Well-Supported Reporting
Strong appraisals are backed by thoughtful data and presented clearly. Reports that:
Provide a logical reconciliation of value
Offer photo documentation and commentary that explains the condition and features of the property
Use relevant and timely comparables
...are easier to review and less likely to require clarification or revision.
4. Proactive Communication Throughout the Process
From confirming the appointment to delivering the report, communication should be consistent and professional. A smooth process includes:
Fast responses to inquiries
Updates when inspection scheduling is complete
Timely clarification if new information comes to light
Clear communication reduces back-and-forth and helps avoid delays or misunderstandings.
5. Attention to Regulatory and File Requirements
Appraisals used in purchase transactions must meet certain documentation and compliance standards. A well-prepared report reflects:
USPAP compliance
Clear disclosure of assumptions and limiting conditions
Accurate reporting of sales history, zoning, and site characteristics
When done right, the appraisal becomes one of the most stable, dependable parts of the file.
Here’s What the Process Typically Looks Like
Here’s how the process typically unfolds for purchase assignments:
Order confirmed
Access party contacted quickly to schedule inspection
Full on-site inspection with detailed notes, photos, and measurements
Sales and market research completed, including commentary on trends and conditions
Final report delivered with clearly supported valuation and narrative explanations
Final Thoughts
A high-quality purchase appraisal balances precision, timeliness, and clarity. When the process is handled carefully—from the first call to the final delivery—it helps maintain confidence across the transaction, avoid delays, and support a clean close. And that’s pretty much what everyone wants!