What Is The Difference Between Desktop Appraisals And Full Appraisals?
Many people are unsure whether they need a Desktop Appraisal or a Full Appraisal. Learn what the difference is so you can choose the right appraisal for your property.
Why Overpriced Homes Don’t Sell
Every neighborhood has that one home with a "for sale" sign on the lawn that's been standing there for several months. The home has been there for so long that even folks who go to every open house have seen it. Admit it, now you're starting to worry. You think to yourself, "If this home, which is well-kept and modern, isn't selling, does this mean that my home won't sell when I'm ready?" There's a reason why that home isn't selling and it's not what you think. What's the cause? Well, that home is probably overpriced. The seller set the
Are Free Home Appraisals A Good Way To Determine A Home’s Value?
There are tons of websites that provide free home appraisals. It sounds like a great idea, right? A free house appraisal? Stop right there. Sometimes, you really get what you pay for, and with a free home appraisal, you get nothing. Here's why: Home appraisal and valuation sites that offer "free" or "instant" services are a dime a dozen on the internet. This seems like a good value -- after all, it's free and it's instant. Getting the true market value estimate of your home never works that way. What these websites offer is actually an inaccurate value for the
What Happens At The Bank When An Appraisal Request Is Made For A Loan?
You have found the home of your dreams, congratulations! The paper work has been obtained and you're hoping for a closing date soon. Your next step should be to get an appraisal in order to understand the true value of your new home, and to get a loan from the bank. So what happens when a bank requests an appraisal for a loan? The majority of real estate appraisals are requested by mortgage companies to determine the property's purchase price for a loan. The appraiser is your safety net against spending more on your home than it’s really worth. It’s also a safety
How Much Does A Doomsday Preppers Bunker Cost?
I never thought I would write a blog post like this, however, the recent chatter all over the media and internet really piqued my curiosity. What am I talking about? The Mayan apocalypse, of course! No, I certainly never believed the rumors of an impending doomsday, but what I am curious about are "doomsday preppers" or people who prepare for catastrophic events by buying equipment, food and bunkers. I want to know all about the real estate aspects of living in a bunker, like the costs and square footage. The market is still small but growing according to manufacturers. The
Why Appraisal Reports Have Flood Maps
The devastation brought on by Hurricane Sandy is going to cost the government billions. From restoring power to rescheduling most major flights, not to mention the personal loss of people's homes and belongings -- all this is a big undertaking. Many residents of homes in flood prone zones don’t always take the necessary precautions when it comes to living in a high-risk home. Of course, no one wants to consider the worst, but as we have all seen, floods are a real threat. So going forward, especially for home owners in coastal regions, what can home buyers and sellers do
The Types Of Values Sought With An Appraisal
A real estate appraisal develops an opinion on the value of a property. Most often, the use is to determine the market value of a home for a buyer and seller. However, because no two properties are alike and they may serve different needs such as a commercial space versus a home, there are different types of values sought with an appraisal. In order to determine what type of value you seek with your appraisal, take a look at some of the varying types. Some of the most common include: Market Value – This is the estimated value for which a property could exchange between a buyer
The What, How And Why Of A Bankruptcy Appraisal
If you are filing for bankruptcy, getting a bankruptcy appraisal may be one of the most important things you do. Filing for bankruptcy as a means to control of your finances is a difficult, yet sometimes necessary procedure. When you file, you must provide the court with transparent records of your income, debt and any other financial affiliations. While gathering current bills, collections statements and bank statements may not be so complicated, providing the value of your home is trickier. There are several types of bankruptcy filings. Briefly, a Chapter 13 bankruptcy stipulates that the debtor prepare a repayment plan with creditors, and a Chapter 7 states that
Divorce Appraisal: The Basics
It's an unfortunate time when you are going through a divorce. Whether it is amicable or challenging, there are several things that need to be divided. A division of property (or properties) is often on top of the priority list for divorcing couples. But where do you even begin? You must begin with a professional divorce appraisal. This is mandatory because a judge cannot simply determine how much any home is worth on a whim or based on the testimony of either spouse. This is a legal procedure and must be done correctly. Either your attorney knows a local appraisal
Is A DIY Appraisal A Good Idea?
There are a great many online sites that allow you to check out how much homes in your area are worth. This makes it easy for the average person to feel like they can appraise their own home. While a DIY appraisal may seem like a cost efficient way to do things, there are a great many mistakes that can be made, and this can endanger a home sale. What are some reasons for researching comp sales on your own? You want to investigate what the current market is like You're buying a home and want to feel confident that
