Q: How can I obtain a McDade & Company Introduction Package? A: Click here to download a C.L. McDade & Company Introduction Package     Q: Can I get an appraisal readdressed to my bank? A: No, USPAP forbids simply changing the name of the client for 3 reasons: 1. Client – Appraiser contractual relationship 2. Confidential nature of opinions and data contained in the report 3. Considered misleading, in terms of the original intended user of the report Solutions: • FIRREA allows a regulated lender to use a report that was prepared for another "financial services institution". This means that lender B can use a report that was prepared for Lender A, even though lender A is shown as the client. Lender B does not have to be named as a client. • New assignment; re-order the appraisal and create a new appraiser-client relationship. Fees, another inspection and revised scope of work will likely be a result.     Q: What is an appraisal? A: An appraisal is a process that leads to an opinion of value. This opinion or estimate is reached through a formal process that normally uses what we, at McDade, refer to as the three ''common approaches to value''. 1. Cost Approach - Cost of improvements, less physical deterioration and other factors, plus the land value. 2. Sales Comparison Approach – Comparing your property to other similar properties that have recently sold. The Sales Comparison Approach is normally the most accurate and best indicator of value for a residential property. 3. Income Approach – Estimates what an investor would pay based on the income produced by the property. This is an important approach when evaluating income-producing properties.     Q: What does an appraiser do? A: An appraiser provides a professional, unbiased opinion of market value, to be used in making real estate decisions. Generally, this analysis comes in the form of an appraisal report.     Q: What does the appraisal report contain? A: Each report will show a credible estimate of value and identify the following: • The client and other intended users. • The intended use of the report. • The purpose of the assignment. • The type of value reported and the definition of the value reported. • The effective date of the appraiser's opinions and conclusions. • Relevant property characteristics, including location attributes, physical attributes, legal attributes, economic attributes, the real property interest valued, and Non-real estate items included in the appraisal, such as personal property, including trade fixtures and intangible items. • All known: easements, restrictions, encumbrances, leases, reservations, covenants, contracts, declarations, special assessments, ordinances, and other items of a similar nature. • The division of interest which is including but not limited to fractional interest, physical segment and partial holding. • The scope of work used to complete the assignment.