Residential real estate assessments are used to determine home values. Typically, consumers purchase an appraisal for transactions that involve selling or refinancing their property. Tax assessments are conducted for state and local authorities to assess the fair market value for residential and commercial properties. A tax evaluation is used to compute real property taxes which the owner is required to pay. Home evaluations are used to signify the subject property’s market value in comparison to comparable homes within the area. Get a home evaluation that details the current market value of your property.
Examine your requirements for an appraisal. Determine whether you will use a home evaluation to serve as a benchmark for setting a selling cost. The cost that you need for selling your home could be affected by an appraisal. You may want a home appraisal before refinancing or starting a costly home improvement project. Choosing to find an appraisal first may help you avoid overimproving your property.
Contact a few appraisers to inquire about their experience assessing properties which are very similar to your property. Request an appraiser. An appraiser who’s confident about certain market places can often warrant his evaluation and respond to scrutiny by underwriters or potential homebuyers.
Spruce up your home before setting an appointment. Clear any outside clutter which may negatively impact photos of your property. An appraiser will take pictures of front and back of your property. Correct any maintenance that your home needs, such as peeling paint, missing floor tiles or fixtures. An appraiser should indicate that your home is in poor, fair, good or excellent condition. Minor aesthetic improvements can greatly influence the appraiser’s notation of your home’s condition. A home that shows well can help improve the overall assessed value.
Order a home appraisal report. Speak to an appraiser who’s licensed by your state to purchase a home appraisal. Normally, a home evaluation will cost between $300 to $500 for a single family dwelling.