Sunday, January 4, 2009

Getting Your Home Ready for an Appraisal

Author: Brayan Peter

Appraisal can be defined as a process or method of developing a value option, this valuation is a determined based upon the property's market value which will be likely to be sold in the open market. Firstly one needs to know the ABC’s of the appraisal methods and its process. A home appraisal is nothing but a survey of a house done by an expert or professional for their opinion of the market’s property value. In majority of the cases, an appraisal is worked for a bank when a house is being approved for a home loan for the buyer. A home appraisal consists of a detailed report which inspects each and very condition of the house, including the neighborhood, what are the similar houses that are sold, and how fast such similar houses move; these are some of the information an appraiser gathered.

A real estate or otherwise home appraisal can be in the form of replacement/cost opinion of value or as a sales comparison. An income appraisal is also available, but this is mostly done with commercial properties. The comparison of sales will look at other real estate properties in your locality or neighborhood and what kind of homes they are selling and this figure will be compared with your home; with a replacement/cost opinion value, the appraiser will look at how much will it cost to replace the house if it is demolished or destroyed; this is quite commonly used for new houses.

This is the important part of the appraisal; preparing your home for an appraisal. One needs to prepare their home(s) for an appraisal just like you would do for a home sale. You are in an essence to re-selling your house, see that all the maintenance has been done properly; this will include cleaning your home and trimming the bushes to painting the home, once these work is been completed, then later you need to do only minor touch ups. Always be polite to the appraiser and give them the entire access to your house; do work and assist them and not against. Do let them know about your home improvements. Tell them about the newly polished floors, clean new windows with a finished basement, etc.

Last but not least, don't be caught off guard. You need to do your homework in advance! Try to know what are the similar houses which are selling in your locality, this is something which you should do before giving a selling price for your home. But if your house is already on the market for more than a month or two, then do a current research. Let the appraiser know about other similar houses and what they have sold for, especially if you know why a particular house which is like yours sold for lesser price, and let them know why your home is different from others.

About the Author:

Brayan Peter is a Copywriter of Glendora reo appraisals He written many articles in various topics. For more information visit: Indio reo appraisals Contact him at

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Thursday, December 18, 2008

Sunday, December 14, 2008

Understanding the Home Appraisal Process

Author: Craig Berger

If you’re planning to sell a piece of real estate, it is important to get your home appraised. While you can look at market trends for houses similar to yours to generate a rough estimate of what you think your home should be worth, only a certified home appraisal will give you a number that you can be truly confident about and one you will be able to present to potential buyers.

How An Appraiser Rates Your Home

The real estate appraiser will generally start by doing an analysis of the physical characteristics of the property. How much square footage is there? How much usable square footage? How many bedrooms? How many bathrooms? How much undeveloped land is part of the property? How old is the property?

He’ll then collect sales data for similar homes that have sold in the same neighborhood. He will use these figures to gain a basic understanding of how much a property like this should be valued at in the current market.

Finally, there is a field inspection. The first part of the field inspection is the subject property inspection, which involves an exterior and interior inspection. The exterior inspection consists of taking pictures of the front and back of the home, the back and front yards and the street in front of the home. The interior inspection consists of noting the condition of the walls and fixtures within and making notes on anything that might increase or decrease the value of the property in this regard. He should draw a floor plan of the home during this part of the inspection. The second part is the exterior inspection of comparable properties, which he will use to help him estimate the final value of the property being appraised.

The Importance Of Home Appraisal

A good appraisal can make you thousands of dollars more than you might otherwise get. Be sure that the appraiser you use is highly trained and trustworthy. Try to get references from others who have used the appraiser successfully to be sure you are working with someone who will give you a true and honest accounting of your home’s value. To make sure you get the most favorable appraisal you can, take the time to prepare for the appraiser’s arrival. Give the home a fresh coat of paint, make sure the home is clean and take care of any minor repairs before he arrives.

About the Author:

Acreage Anywhere provides a global marketplace for vacant land ownership opportunities of all types. Featuring an easy-to-use vacant land search tool, streaming video tours of available communities and interactive mapping of many land developments. Easily find land for sale all over the country, whether you're looking for ranches, rural properties, second homes or recreation properties.

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