When it comes to property for sale, it would be
great to set a price based on what you think your own home is worth, but the
bank will likely want something more objective before it's ready to match that
price with a mortgage for a homebuyer. And that's where the appraiser
comes in.
An appraiser acts as a kind of middleman who
assesses homes by their condition and by how they compare to other similar
homes in the area. Though real estate appraisers work off of checklists that
measure real values in a property for sale, they also have experience and
training in raising or lowering the home price based on what buyers want and on
how sellers have cared for or neglected their properties.
Real estate appraisers are professional skeptics.
They will seek to verify anything that you tell them from other sources. They
often ask questions that they already know the answer to just to test the
credibility of the people showing them the property. Real estate appraisers are
always thinking about how they will defend their opinions if they are ever
brought to court, even in assignments in which litigation appears unlikely. If
you misrepresent anything, the real estate appraiser will discount the
credibility of anything else that you say.
A real estate appraiser also does feasibility
studies to assist home owners before starting home remodeling and renovation
work or when they have a property for sale. The real estate appraiser
conducting the study analyzes the condition of the property for sale and the
cost of the renovations. The appraiser will then prepare an estimate of what
the property's value will be after the improvements are made. This information
will enable the homeowner to not spend too much or too little money with the
renovations.
When having a property for sale it is best to
choose value over cost and price. Value is not necessarily equal to cost or
price. Cost refers to actual expenditures; for example, materials and
labor. Price, on the other hand, is the amount that someone pays for something.
While cost and price can affect value, they do not determine value.
Tam Bay Realty LLC
1408 N West Shore Blvd Suite 1000 Tampa, FL 33607
(813) 908-0706
http://www.businesslocallistings.com
No comments:
Post a Comment