Helping the Appraiser
Once you have selected an appraiser, be prepared to answer questions and provide requested information.
Appraisal Needed To Obtain Loan
Usually, individuals applying for a loan are only interested in obtaining the loan and unfortunately are not worried about the prudence of buying the property at the agreed price. In fact, many purchasers will try to encourage appraisers to increase the appraised value so that they can purchase the home regardless of its value.The majority […]
Home’s Market Value
In the real world, very few individuals order appraisal reports to establish an offering price or to substantiate a purchase price. At the point that an offer to purchase (in a typical residential transaction) is made, the price has been set by other parties, not the purchaser. The price has been determined by the seller, […]
Reasons For An Appraisal
There are many reasons to obtain an appraisal. The most common reason is for Real Estate and Mortgage Transactions, but we have compiled a list of other reasons you may need to order an appraisal:
to obtain a loan.
to lower your tax burden.
to establish the replacement cost of insurance.
to contest high property taxes.
to settle an estate.
to […]
Appraisal Methods
An appraisal is an opinion of value or the act or process of estimating value. This opinion or estimate is derived by using three common approaches, all derived from the market.
They are:
Cost Approach to value is what it would cost to replace or reproduce the improvements as of the date of the appraisal, less the […]
Appraisal Basics
An appraisal of real estate is the valuation of the rights of ownership. The appraiser must define the rights he intends to appraise.
The appraiser does not create value, the appraiser interprets the market to arrive at a value estimate. As the appraiser compiles data pertinent to a report, consideration must be given to the site […]