What are the Differences between a Real Estate Appraiser and Home Inspector
Many people believe a home inspector and real estate appraiser have the same job, when, in reality, they are very different. Although, both can be requested by mortgage and lending companies, they are usually used for different purposes. Knowing the differences between the two can teach you how to prepare and take advantage of the information learned. Both of these are very different than an assessment, which is performed by a government official for tax reasons. Home Inspectors These are often required just before the closing of a house, to ensure that all both the buyer and the lending company
Value Your Home with a Real Estate Appraisal
When it comes time to have a real estate appraisal most people don’t know exactly what that entails or how a home in evaluated. The method by which real estate appraisers come by the value depends on the property and the reason for the appraisal. These two factors can dramatically alter the real estate appraisal. Different Properties Not all properties are examined the same way by appraisers. When examining a home, the appraiser looks at the features and liabilities of the home, factors them into location and land, and then adds up this total. To get the correct value, they
The Value Approaches Used in Real Estate Appraisals
When coming up with real estate appraisals licensed agents in the US typically use three methods to come by their valuation figures. The approach depends on the purpose of appraisal, the agent and, most of all, the party requiring the appraisal. Since the three methods can come up with significantly different figures, it’s a good idea to know which method is used by your real estate appraiser. Knowing how appraisals work teaches you to how to improve your home to increase its value. The Cost Approach In the cost approach, the land and the property (including features of that property)
Prepare for Real Estate Appraisals
You will have to deal with real estate appraisals at some point in your life as a homeowner, whether getting one before selling house, having one for insurance purposes or just getting one to get an idea of your current home value. Cheap home appraisals are fast and painless, and don’t take a lot of preparation, unless you count home improvements. Decide on the Purpose Before you even get the home appraisal cost, ask yourself what you want it for. Appraisers use different procedures to determine the value of a property. Let them know in advance why you want the
What Do Home Appraisers Look For
No profession knows how to sell a home better than home appraisers. Since they study the current market trends, they know how you can get the most value from the home. Following their advice, you can not only improve your home and living space, but also net a sizable profit as well. Adding Space and Light You can never have too much space and light in a home, and these are two factors that really help sell it. If you have a home with multiple small rooms, simply knocking a wall down will give you one extra large room instead,
Features Loved by Home Appraisers
There are many features that home appraisers are looking for in homes. Some of these improvements can be performed by anyone that can tell the difference between a hammer and a paintbrush. For most people, homes represent the best investment you’ll ever make, so you should do your best to add the most value to it. Sunrooms or Enclosed Porches Sunrooms and enclosed porches are a very popular trend in homes right now. People love the idea of reading or lounging in the outdoors without worrying about bugs or the temperature. It also contributes to the square footage of your
