Let’s talk about appraisals.
A home appraisal, or property valuation, is simply an unbiased professional opinion of a home's value. Appraisals play a key role within both purchase-and-sale transactions, and during the refinancing process. When buying or selling real estate, it is essential that we have an appraisal done in order to ensure that our properties contract price is appropriate, and this is based off of a variety of factors such as the properties’ location, condition, and features. The last thing that we want is for you to overpay for your property, or to list your home for less than it’s worth! An appraisal will come alongside an explanation that breaks down your valuation, a summary of the appraised properties characteristics including renovations, size, and condition, and even the possible recognition of unknown structural defects or any other characteristics that affect the valuation. This is all vital information to know when looking to sell or purchase real estate! There are so many factors that come into play when having your home appraised, and weather you are buying, selling, or refinancing, an appraisal is essential in ensuring a smooth process.
Comments