A real estate appraisal is the determination of the fair market value of a property by a Certified General Real Estate Appraiser. The Inspection - a licensed appraiser inspects the property to determine fair market value. Comparative Review - the appraiser researches similar homes in your area and compares recent sales to determine market value. Final Appraisal Report - using the data gathered from the inspection and comparative review, your appraiser issues a final appraisal report.
A home inspection is much more in-depth and designed to find things wrong with a home, such as problems with the foundation, mold, roof improperly installed, etc. An appraisal will take obvious defects into account, but is specifically aimed at determining the fair market value of the property. The appraiser will check the basement for updates and finishing, but never include it in square footage.
Updated or finished basements can increase property value. The appraiser will verify the existance of a working furnace and air conditioner and that they appear to work.
A home inspection is much more in-depth and designed to find things wrong with a home, such as problems with the foundation, mold, roof improperly installed, etc. An appraisal will take obvious defects into account, but is specifically aimed at determining the fair market value of the property. The appraiser will check the basement for updates and finishing, but never include it in square footage.
Updated or finished basements can increase property value. The appraiser will verify the existance of a working furnace and air conditioner and that they appear to work.
Services
Each full residential real estate appraisal includes an exterior inspection of the property with photos, an interior inspection of home with photos, a complete written report describing your neighborhood, home and property with a drawing of site improvements, a cost approach to value with site value if warranted, a sales comparison approach comparing your home to other recent sales in the neighborhood, and a final reconciliation of value for the subject home.
The choice is yours.
The choice is yours.
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