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Transferees
Click here to view an ERC demonstration report, which shows an example of what your appraisal report would look like.
The relocation company wants two appraisals so they can get two individual opinions on how much your house is worth. In addition, they may send out a real estate agent to give their opinion. If, for some reason, the two appraisals are more than 5% apart on the value, they will then request a third appraisal be done to get another opinion.
Why should you use Piekos Appraisals? Mortgage appraisal versus relocation appraisal. What's the difference?
Remember to ask for Piekos Appraisals to do your relocation appraisal! |
Beginning the relocation process? What can you expect? If you're a transferee, it will be comforting to know that Paul Piekos has the education and experience to determine an accurate Anticipated Sales Price for your property. I am the appraiser that will perform the appraisal on your home from my firm. I am a 2022 member of the Worldwide Employee Relocation Council, and am currently listed on page 29 in the 2019 ERC directory (the latest published). I am one of the first relocation appraisers to have successfully completed the Worldwide ERC's Relocation Appraisal Training Program for the new 2010 form. Click 
When you interview the appraiser, ask them if they're familiar with your neighborhood, and how the local market has been recently. These factors are presented early in the written appraisal report. Ask about their experience, and what kind of service they'll provide. After all, you're not paying for the appraisal, but you're entitled to good and courteous service.
When I arrive at your home, what I will be doing is gathering information about the property. I will take a lot of pictures, both inside and out. The people back at the relocation company want to see what the house looks like. This is when you want your house looking its' best. If you've been thinking about redecorating or repainting, have it done before I arrive. I'll wait for you to do it. I will then measure your house for its' size. Square footage is a major factor of value, and usually takes up most of the time that I will spend at your house. I then take a tour, or walk-through, of the house. I write down the significant features of each room, such as... kitchen with center island and planning desk, sunken Family Room with fireplace, luxury Master Bath, etc. After the tour is the time I may ask some questions pertaining to the home that I haven't already discovered in my walk-though. Some questions might be: What appliances are staying with the house? What improvements have been made in the past few years?
The last question I ask may or may not impact the way I appraise your home after I leave. To include you in the process, the relocation company asks me to ask you if there are any homes that have sold recently or on the market now that you would like me to compare your house to. I find that a transferee who has had a listing presentation or a competitive market analysis (CMA) done by a local real estate agent is the best informed in this step of the process. If there is any comparable information that you want to give me, make a copy of the CMA and hand it to me while I'm at your house. If the information is relevant to your property and to your advantage, I will certainly include it in the report. If, for some reason, I find that the information provided is not the best or most relevant, I will at least write and explain why it was not used in the report. I cannot express enough that this step is probably the biggest opportunity that you are given by the relo company to state your case pertaining to valuating your property. Take advantage of it!
When I leave your home is when I begin the valuation process. I look for at least three recent sales of similar homes in your neighborhood that have sold in the past six months (the market is constantly changing), and three listings that are currently on the market (your competition). See why that previous tip is so important? The report is then written up and sent back to the relocation company, who waits for all the reports to come back, so they can review them all before they present you an offer.