Below are five common questions in regards to the appraisal process. Please understand these questions and answers are merely here for the education of potential clients and do not serve in any fashion or form as documentation of our services to be provided both including past and future. Always call us directly at (919) 778-8114 with your questions or comments about the appraisal process.
Why do you need an appraiser?
You need a certified appraiser for several reasons which range from: valuing an estate, divorces, insurance estimates and much more. The most obvious and common reasons is for either the buying or selling of real estate to get a more accurate idea of the value of the property.
How long will it take for appraisal process?
An average appraisal can take typically up to an hour in regards to the actual commute, looking over property, measuring and photographing. The remaining portion which includes research of records from the MLS, tax records and comparison against similar properties can take an additional 3 to 5 hours. The entire process will usually run the course of 1 to 5 hours but this can change drastically depending on circumstances.
Does your appraisal include a home inspection?
No an appraisal doesn’t serve as a valid home inspection. We may make suggestions in regards to repairs and give average estimates for costs but our opinion in no way serves as a valid inspection. You will need to hire an actual certified inspector for the final inspection and we can provide you with a list of references in regards to this.
What does the industry mean by market value?
This is the most likely price a “real” property may bring in a competitive market. All factors that are considered in a market value include but are not limited to: price is reflective of the property by extensive financing or sales considerations, all parties involved are well versed in the buying and selling process and both the buyer and seller are acting in their best of interests.
Is furniture and above ground pools included?
None of these items or even most similar items are included in the appraisal process. The appraisal process only includes “real property”. The definition of real property can vary from state to state but most of the time this include the home, land and some exterior items such as in-ground pools.