There are many ways to determine the value of a property. For example, Realtors and mortgage professionals can use public records of recent sales to find properties which, on paper, are comparable to the subject property. From this information they can determine an average price per square foot and extrapolate a potential value of the property. Although this is a relatively inexpensive and quick way of determining value, it is not always a good representation of the property's value.

In most cases, a professional appraiser will be employed to visit the subject property and several comparable properties, take pictures of each and make proper adjustments to the values for added amenities or lack therof. In addition, licensed appraisers are aware of flood plans, rights of way and can confirm lot dimensions.