A full Maine residential Real Estate appraisal consists of many things.  The appraiser will do vast market research in the subject properties area.  Usually, the search is in an area of 3-5 miles of the subject property.  The appraiser will find 3-4 "Comparable properties" and add or deduct value based on what the property has and doesn't have compared to the "Comps".  The appraiser also inspects the subject property and takes pictures of every room and amenity the property has to offer.  The full appraisal is the best and most accurate way to determine a proper value for your property. 

A drive by Maine Real Estate appraisal is easier for the appraiser, because there is no interior inspection.  The appraiser "Drives By" the subject property and takes an exterior photo, and is unaware of anything in the interior of the property.  The appraiser still pulls "Comparable properties" and usually goes off info from the Town/City Assessors website, or old MLS listing if the property was listed or sold in the last few years.  If the property has superior interior quality, the appraisal will not be as accurate as a full appraisal.

In the current Maine Real estate market, it is becoming more common for appraisals to be requested before your property is listed for sale.  This way, the Real Estate agent and the seller are better aware of the market value of the property.  The problem today is that a lot of Maine properties are assessed for 10% to 25% higher than their actual value.  If your property is listed to high, it can cost you time "Testing" the current market.  If its listed to low, it can cost you money. 

Divorces are a tough thing, but you want to be sure that you are getting your fair market value of your property, and not paying too much to your ex based on assessed value.  The judge may request an appraisal, or the judge may not; either way, it is important for you to know what the actual value of the property is before you decide how its being split up.

Maine residential Real Estate appraisals are an important part of Estate planning.  Don't be stuck with a house as your share of the Estate that is really worth 20% to 30% of what you believe it to be.  Assessors values are not accurate in todays market, and can cost you $1,000's of dollars after the Estate is settled. Be carful, get a residential Maine Real Estate appraisal before its too late!