Whether it’s your primary residence, a second home or an investment, buying or selling property is a complex transaction. Approaching it with knowledge and expertise is critical for achieving a favorable deal.
One of the key pieces of knowledge you can arm yourself with is the appraisal. An appraisal is a professional assessment of the value of a parcel of real estate. It’s what you, as a buyer, could reasonably expect to pay (or receive, if you’re the seller). A licensed, certified appraiser at A&I Appraisals, LLC can accurately provide this information.
Appraisals begin with an inspection of the property to determine its true status. The appraiser makes sure to personally see each of the features, such as the number of bedrooms and bathrooms, to ensure they exist and are in a condition that a buyer would reasonably expect. Additional features and defects in the property that could affect the value of the house are also compiled.
After the inspection, the appraiser evaluates the data to produce an estimated market value for the property. This amount is often not the final sale price, due to other personal factors, such as the relative urgency of a sale. However, the knowledge gained from the appraisal process is an invaluable tool for making an informed decision.
