Laspina Appraisal Services Inc. has answers to "Frequently Asked Questions"

Laspina Appraisal Services Inc. is prepared to elaborate on any questions you might have about appraisals or real estate in Westmoreland County. Don't hesitate to contact us today.

What is an appraisal?
Describe what an appraiser does
What are the reasons I would require services from Laspina Appraisal Services Inc.?
What is the difference between an appraisal and a home inspection?
What does the appraisal report contain?
After completing the report, what assurance is there that the value indicated is trustworthy?
How are appraisers certified?
Who are an appraiser's customers?
Where does an appraiser get the data used to estimate values in Westmoreland County or other areas?
Why should I hire a licensed appraiser?
How do I get ready for the appraiser?
Define "Market Value"
Who has rights to the appraisal report?
Which home renovations add the most to the price?

What is an appraisal?   (List of questions)

An appraiser performs an evaluation that leads to an opinion of value. The appraiser will typically use a several "approaches," typically three, to draw up the estimation of market value. One of the processes is the Cost Approach - which is how much it would cost to replace the improvements, less physical deterioration and other factors, then adding the land value. The most common approach in finding the likely sales price of a house is the Sales Comparison Approach which deals with figuring a comparison to comparable properties close by. Being the most popular approach, the Sales Comparison Approach is generally the most precise and best indicator of market value for a residence. The third approach is the Income Approach, which is of most importance in appraising income producing properties - it deals with estimating what an investor would pay based on the money produced by the property.

Describe what an appraiser does   (List of questions)

An appraiser produces a fair and credible assessment of market value, often in the context of a real estate sale. Appraisers exhibit their expert analysis in appraisal reports.

What are the reasons I would require services from Laspina Appraisal Services Inc.?   (List of questions)

There are a lot of reasons to purchase an appraisal from Laspina Appraisal Services Inc. with the usual reason being real estate and mortgage transactions. A few other reasons for getting an appraisal report include:
  • To obtain a loan.
  • To reduce your tax burden.
  • To challenge high property taxes.
  • To settle an estate.
  • To offer you a negotiating tool when purchasing real estate.
  • To figure out an honest price when selling your home.


Appraisers do not do provide house inspections and are not home inspectors. A third-party home inspector will evaluate the structure of the home, from the top to the foundation. The stereotypical house inspector's report will contain an evaluation of the integrity of the property's heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems, the roof, attic, and visible insulation, walls, ceilings, floors, windows and doors, the foundation, basement, and visible structure.

Is an appraisal the same as a comparative market analysis(CMA)?   (List of questions)

Frankly, they share nothing in common. The CMA depends on vague local market trends. The appraisal is based on similar definite comparable sales. Also, the appraisal verifies other factors like condition, neighborhood and building prices. A CMA delivers a "ball park figure." Being a documented and carefully investigated opinion of value, appraisals are defensible and stand up in legal situations.

But the most significant factor is who's behind the report. Real estate agents, who may not have a true grasp of valuation methods or the entire market, create CMA's. A certified, state licensed professional who has formed a career on valuing real estate in and around Westmoreland County creates the appraisal. Likewise, the agent has a vested interest in the property's selling price - their commission - whereas the appraiser is bound by a code of ethics to collect only a flat sum for assignments, regardless of their value conclusion.

What does the appraisal report contain?   (List of questions)

Each appraisal should indicate a believable estimate of value and must clearly state the following:
  • The client and other intended users.
  • The intended use of the appraisal.
  • The purpose of the appraisal.
  • What was entailed in the activity of completing the appraisal.

After completing the report, what assurance is there that the value indicated is trustworthy?   (List of questions)

  • The appraisal used an apropos analysis of the data.



  • That a credible, defensible appraisal report was conferred.
There are intense classroom and practical experience requirements that must be met in order to become a licensed appraiser in Pennsylvania. Plus, appraisers must stick to a meticulous industry code of ethics and observe national standards of practice for real estate appraisal. The guidelines for developing an appraisal and communicating its results are insured by enforcement of the Uniform Standards of Professional Appraisal Practice (USPAP).

   (List of questions) Licensing and certification requires classroom study, tests and practical experience. Once licensed, he/she is required to engage in continuing education courses so the license remains up to date. To see the specific requirements for any state click here.

Who are an appraiser's customers?   (List of questions)

Typically, appraisers are employed by mortgage lenders to render a value opinion on property involved in a loan transaction. Attorneys and CPAs also retain the services of appraisers for divorce and estate settlements.

Where does an appraiser get the data used to estimate values in Westmoreland County or other areas?   (List of questions)

Compiling information is one of the primary functions of an appraiser. Data can be described as either Specific or General. Specific data is gathered from the property itself; Location, condition, amenities, size and other specifics are gathered by the appraiser during an inspection.


And most importantly, the appraiser assimilates general data from his or her collective knowledge gained from doing assignments for other houses in the same market.




PMI is the common abbreviation for for Private Mortgage Insurance. It takes care of the lender in the event a borrower is unable to pay on the loan and the market price of the property is lower than what the borrower still owes on the loan. Once you can prove the amount you owe on your home is less than 80% of the home's market value, you can make a case to your lender to drop the PMI.

Has your real estate appreciated since you first purchased? Contact Laspina Appraisal Services Inc. today at (724) 325-6309 to see if you can save money by removing your Private Mortgage Insurance premium.



  • List of personal property to be sold with the building.

Define "Market Value"   (List of questions)







