What Does a Home Appraiser Check?
Home appraisers play a vital role in the process of buying and selling properties, as they help determine the accurate value of a piece of property or house. If you are scheduled to have your own appraisal, you may be concerned about what the appraiser will look for. The appraiser looks at a number of factors in determining what your house is ultimately worth.
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Size and Measurements
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When the appraiser comes to your house, one of the first things he does is look at the size and measurement of the property. He starts by looking at the layout of the home and seeing how many rooms it has. Then the appraiser gets accurate measurements for each room so he knows exactly how many square feet are in the property. This number is critical to determining the accurate value of the house.
Condition of the Property
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Another factor that the real estate appraiser checks is the condition of the property. The real estate appraiser has to determine how well the property has been maintained. She considers how up to date the home is in comparison to similar homes in the area. If the property has not been updated according to the standards of the neighborhood, this can reflect poorly on the evaluation of the property overall.
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Improvements to Property
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The real estate appraiser looks at any improvements to the property. For example, if you added on an extra room, this can add significant value to the property. The appraiser looks at features such as new hardwood flooring or new cabinets in the kitchen. Anything that is permanently attached to the property can add value in the appraisal. Items that are not permanently attached don't necessarily add any value.
Other Properties
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Besides examining the features of your property, the real estate appraiser also checks out other similar properties in your neighborhood. Part of the appraisal process involves comparing your house to comparable properties in the area. The appraiser looks at other houses that have recently sold in your area to determine what your house is actually worth. A per-square-foot price is derived from the other houses and applied to the size of your house.
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