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Residential Real Estate Appraisals
An appraisal is the act or process of estimating value. A real estate appraisal is conducted to set an overall valuation from a certified, state-licensed professional. The valuation helps determine the selling price, loan amount, refinancing value, or tax amount. We at Town & Country Appraisers go on site to help ensure an accurate valuation of your home or property. We maintain an objective and unbiased point of view in order to ascertain the accurate estimation of your residential real estate property.
A few reasons you might need an appraisal:
Selling your home
Tax Reassessments
Refinancing
Loans
Insurance
Estate Planning
Divorces
Tax Reassessments
Refinancing
Loans
Insurance
Estate Planning
Divorces
Purpose:
Determine fair market value of properties
Determine fair market value of properties
Key Steps:
Property inspection
Market analysis
Comparable sales review
Valuation report preparation
Property inspection
Market analysis
Comparable sales review
Valuation report preparation
Crucial for:
Buying/selling decisions
Financing
Legal matters
Buying/selling decisions
Financing
Legal matters
Expertise:
Provided by qualified appraisers
Provided by qualified appraisers
Outcome:
Ensures accurate property valuation
Ensures accurate property valuation
Town & Country Appraisers works hard to give you the most accurate assessment of your residential property for today’s market. The appraisal of your property’s value is an essential step to selling your home. Each home is unique and an appraiser is trained to assess each element in order to evaluate the overall value. Many factors, including the neighborhood and township, play an important role in giving your property a valuation on today’s market.
Sometimes a homeowner makes improvements or changes their home; these changes potentially impact the overall value of the home and/or property. An appraisal will help homeowners have an accurate insurance value.
Just as in initial mortgage loans, lending companies require a real estate appraisal on your home to ensure the collateral valuation justifies the loan amount in any new refinancing. In other words, banks want to make sure your home is worth at least the same amount or more than the amount of money they are loaning you.
A home appraisal protects both you and the bank. Banks use appraisals to ensure their lending amount matches the overall value of the home or property. It also protects you from paying too much for a home or property.
Property Inspection:
The appraiser visits the property to assess its condition, size, layout, and features. Takes photographs and notes of the property’s interior and exterior.
The appraiser visits the property to assess its condition, size, layout, and features. Takes photographs and notes of the property’s interior and exterior.
Comparative Market Analysis (CMA):
The appraiser researches comparable properties (comps) that have recently sold in the area. Factors in similarities and differences between the subject property and comps.
The appraiser researches comparable properties (comps) that have recently sold in the area. Factors in similarities and differences between the subject property and comps.
Market Condition Analysis:
Reviews current market trends, including supply and demand, economic factors, and neighborhood characteristics.
Reviews current market trends, including supply and demand, economic factors, and neighborhood characteristics.
Valuation:
The appraiser reconciles the values derived from different approaches to determine the final appraised value.
The appraiser reconciles the values derived from different approaches to determine the final appraised value.