Do you call it a home or a house? Either way, a home or a house has market value and in some cases would be considered priceless by the owner. But outside of being priceless, what is the market value? And how much does it cost to find out? When buying or selling your home, I always tell people that getting an appraisal is the lowest risk investment in the entire real estate investment process.
And depending on the scenario, it's also one of the quickest Return On Investment (ROI) that I've ever seen. When hiring a certified and professionally licensed appraiser, you're not getting a random guess and you're not getting some computer-generated online valuation number. While I could go on and on about what an appraisal is, I think it's best to get straight to the point with what the Appraisal Institute and USPAP have to say.
And depending on the scenario, it's also one of the quickest Return On Investment (ROI) that I've ever seen. When hiring a certified and professionally licensed appraiser, you're not getting a random guess and you're not getting some computer-generated online valuation number. While I could go on and on about what an appraisal is, I think it's best to get straight to the point with what the Appraisal Institute and USPAP have to say.
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Please be as detailed as possible when describing the purpose (listing, divorce, probate, etc.) of the appraisal and also when describing the property (age, approximate sq.ft., design/style, lot/acreage size, any upgrades, etc. ) to be appraised. If you have a County Assessor Tax Map ID #, please include it also.
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If they have an Open House, visit those homes and take notes of what they've done to prepare it for listing purposes. And while this may seem like a bit of overkill, having to go check out the competition, that is exactly what you are doing and chances are, the appraiser will use comparable properties that have been "property prepped" and/or "staged".
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Building the Regression Model for Real Estate Appraising The Market Machine's regression page makes it easy for you to build a real estate regression model using your MLS data export. Real Estate Appraisers Real estate appraisers appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.
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