What is an Home Appraisal?
Appraisers typically do the following when appraising a home or residential property (as compared to a business). First, they research the property anyone can get from public records regarding the year the home was built, and sometimes by what builder, the size of the home measured usually in square feet, and the number of bedrooms, bathrooms, and how large the yard is. This, along with knowing what neighborhood the home is located, gives them a base of knowledge.
Next, an appraiser will gather and compare other homes similar to the subject. Usually, the appraiser will look for three or more homes within a one mile radius, and that have sold within the past six months. Of course there are occasions where they have to reach outside these generalized boundaries or close them in because they get too few or too many homes. With in the Phoenix MLS, real estate can range from being tightly built, to large cotton or citrus farms that are a mile square themselves. These three or more homes then are the "Comps" or Comparable Properties that the appraiser will use to compare your home, or the subject property against.
Last comes a field inspection. For the subject property, the appraiser is going to walk the perimeter of the exterior then walk the interior. He will be noting both the good, bad and ugly. Hopefully, your subject home in Phoenix, Ahwatukee, Chandler or Gilbert will be the nicest in the neighborhood. The appraiser will also be photographing the outside of the property, possibly the inside and probably the street scene.
What to do when the appraiser makes his appointment to visit your home? Appraisers are human and although they try to work as objectively as possible, I know they can be positively or negatively influenced even if subliminally influenced by what they see and hear. So, clean up your property putting away offensive looking items. Mow the grass, they look at that. Straighten up and clean the inside of the home as well. Everything will help the appraisal.
Last, and this is important. If you received an offer for your home higher than you, after considerable research, determine the home's worth, you will have to justify this to the appraiser. Again, the appraiser thinks he is objective and 90% of what he records and compares is objective, but if you know positive things about your home that his "comps" may not have, type a list and leave it for him, or even hand it to him. Some of these items in the Phoenix area may include whether your home is on a preserve or against a golf course where his other comps are not. Be sure to let him know if and how much your "lot premium" was you paid. Or if you have just rehabilitated your home, make sure he knows how much all the new items were. He will not want or ask for receipts, but a list with an estimate if, say you put $50,000 of upgrades in your home, could just bring the appraisal in at the price you accepted.
Related Tags: real estate, home, arizona, mls, arizona homes, phoenix realtor, arizona realtor, home inspections
Philip Rosenberghttp://www.philsellsaz.comRealty Experts, Inc480-473-4532 Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Beginning of the Cataloging Code
The first significant cataloging code was published in 1841. The realization that cooperation and s - In the Lap of the Gods 24
Life moved on. Lily became well liked by both students and staff because of her cheerful outlook on - In the Lap of the Gods 23
Does fate decide the future? Is it all mapped out for us, predestined, or can we influence what com - Write Your Memoir: How to Write About What Troubles You the Most
Everyone has a story to tell, and unfortunately those stories aren't always pleasant. What makes me - How Crafty Word Order Can Instantly Improve Your Writing
by Philip Yaffe I am usually very reticent about offering writing tips. Unless they are linked to - You Say Grandpa, I Say Deda
I was born with two grandmothers but only one grandfather. In nature's rules of familial supply and - My Russian American Dichotomy
I was a Russian girl and an American teenager. I had no choice about the first but I tried very har - In the Lap of the Gods 22
This is just an explanation for those who have read some of the other Chapters of, "In the Lap of t - Write a Book: 8 Reasons You Should Do it
Studies have shown that 82% of people want to write a book, but few of these actually ever achieve - Book Review: the Book of Common Prayer
Book Review: The Book of Common Prayer, "My carry-with-me copy is this size, and I recommend it for
Most viewed articles in this category:
- Real Estate Investment - Investing In Commercial Properties
As in any other type of investment, its obviously advisable to do your research well so that the pro - Taking Care Of Acne Prone Skin With Proper Skin Care Products
Although acne has been largely associated with teeners and puberty, the condition is not only confin - Do I Really Need Eight Hours Of Sleep Each Night?
What if you were told that there is no definitive answer for why we need to sleep? Your initial reac - How to Improve Your FICO Credit Score
If you didn't know this already, having a good credit score is more important than having a lot of c - 10 Tips for a Magnificent Memory
"Where did I leave my keys?" "What did I come in here for?" "Your glasses are on top of your head!" - Things You Might Like To Know About Card Companies
If you have a regular income and are 18 or over then you may be able to get a credit card. You will - Bad Breath in Babies and Toddlers
If your baby or toddler has had bad breath lately, not to worry. There are plenty of things you can - Starving College Students No More
The majority of today's college students are extremely Internet savvy. In fact, many of those studen - Cosmetic Surgery Financing: How Can You Get It?
Cosmetic surgery, a branch of plastic surgery, can be quite expensive, especially if you are plannin - Article Marketing, Improve Your Ranking With Links
Article Marketing, without a doubt remains the best free formula for attracting website traffic. At