Estimating Value of Properties

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Hello:

I am new to this forum. I am not writing as a consumer or an agent, so please let me know if I should post this elsewhere.

I am an appraiser who is looking to expand into valuations or property reports for the insurance industry.

I was curious to see how property valuations are estimated in the insurance industry and also what demand there are for value or condition related inspections.

The apprasal industry has been severly beat up and moving into insurance related valuation services seems like a natural progression.

Of course, I am happy to anwser any questions related to structural or market valuation as well.

Regards.

Manappraisal
 
Insurance has ZERO to do with house value....
 
Hello:

I am new to this forum. I am not writing as a consumer or an agent, so please let me know if I should post this elsewhere.

I am an appraiser who is looking to expand into valuations or property reports for the insurance industry.

I was curious to see how property valuations are estimated in the insurance industry and also what demand there are for value or condition related inspections.

The apprasal industry has been severly beat up and moving into insurance related valuation services seems like a natural progression.

Of course, I am happy to anwser any questions related to structural or market valuation as well.

Regards.

Manappraisal

There are a variety of inspection companies that not only do replacement cost estimates but also underwriting reports.

Here is one:

muller-inc.com
 
Many insurance companies do continue to use information from appraisals which to me is wrong. Many people confuse market value with replacement value and or reproduction value. Very few appraisers can determine with accuracy the replacement cost. Marshall & Swift I have found is not very accurate. Most appraisers do not have a contractors background therefore they are putting their license on the line when they do an appraisal to determine replacement cost for insurance purposes. I would recommend you stay away from insurance appraisals unless you have a contractors background or a qualifying background other than being just an appraiser otherwise you are risking your appraisers license.
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There are a variety of inspection companies that not only do replacement cost estimates but also underwriting reports.

Here is one:

muller-inc.com

Bobson I checked out your link above and did not find a company that does replacement cost estimates rather it looks like a parking spot website. I have been looking for a decent company to provide replacement cost estimates.
Thanks
 
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this post has cracked me up.....no one has answered the question yet and seem to think the appraisal is the answer....

Well, If I am writing a new policy and the client is just chnaging companies, am I supposed to tell them to go get a $300 appraisal?:swoon::no:
 
Hey Red it doesn't appear you have worked in Florida. Homeowners actually pay for appraisals to reduce their insurance valuation, (mostly in the $400,000 and up) Florida Homeowners insurance is sky high,(fees are higher than $300) although you are correct insurance has nothing to do with "market value" many insurance companies continue to use the "Cost Approach" for the replacement cost for the insured value. Just curious what do you use to determine replacement value?
 
We personally look at each home we write, and go take pictures and measurements. Then we enter that information in to the carriers replacement cost estimating software.
 
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