Getting an appraisal is an important part of the buying and selling process. An appraisal evaluates both the house itself and the current value based on recent sales information.Realtor? Robin Jones of Norfolk, NE explains the ten things an appraisal should include:
You must appraise real estate to sell it. If you have a Realtor that you trust, they can point you in the right direction.
Appraising is the science of determining the value of a home. Your real estate appraiser must be state-licensed and certified.
Don?t confuse a comparative market analysis with an appraisal. Realtors use CMAs to determine a realistic asking price. Your appraiser?s report will be much more detailed.
Here is what your appraisal should include:
* Details about the property with comparisons of up to three similar properties. * An evaluation of the real estate market in your area. * A listing of the features and characteristics of your home, including a description of the lot, exterior and foundation. * A visual assessment of your home, including approximate age, overall condition, number of bedrooms and bathrooms, etc. * A description of equipment in the kitchen and a description of the attic and garage, if applicable. * Materials in each room, such as floor covering and trim. * A listing of utility systems like heat and electricity. * Statements about issues that may decrease the property?s value. * Documentation of serious flaws. * An estimate of the value of the home.
If the appraisal uncovers unexpected problems, know that most problems are fixable. An appraisal is NOT a home inspection which takes an in-depth look at the structural soundness of your home. Remember, don?t panic if your appraisal is low, because a good Realtor will make the deal work.
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[The condo shown above in Norfolk, Nebraska is listed for $149,950. ]
Source: http://rock-n-rollrealestateagent.com/ten-things-every-appraisal-should-include/
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