Home Appraisal

Home Appraisal: What’s Your Home Really Worth?

If you are thinking of selling a home, appraising the value of your home allows you to set an optimum selling price. This prevents you from asking too little and throwing away hard earned equity or asking too much and never selling.

If you plan to purchase a home or property, lenders require an appraisal to insure what you intend to buy is worth the money you seek to borrow.

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An appraisal is an unbiased estimate of what a seller may receive or a buyer may pay for a specific piece of real estate.

Appraisers are individuals who estimate what your home is worth.  Traditionally appraisers come to the property in question, perform an inspection, observe the physical condition of the property noting any features or defects affecting the property value, determine the proper square footage and layout, and complete a survey listing the number and size of the rooms noting extras such as a fireplace, garage, or pool.

Appraisers then do considerable research comparing your home to others with similar features that have recently sold. An estimate, called an appraisal report, is generated stating what amount of money your home may sell or be bought for.

A home purchase is the largest investment most people will make. By using the services of a licensed, certified, professional appraiser, you will be better informed to make wise real estate decisions and be armed with accurate property values to negotiate the best selling or purchasing prices.

Please note that an appraisal is different from a home inspection which will warn you against things in a home that should be fixed.  For Home Inspection tips, please visit our Home Inspection page link located on the left.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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