FACTS AND MYTHS ABOUT HOME APPRAISAL
Facts and Myths About Home Appraisals
Home appraisals are none other than finding the real value for your residential property. After an extensive research and analysis, the appraiser comes to accurate outcomes pertaining to the value of your property. Let us have a glimpse on few myths and facts that are attached with the home appraisals. Just Appraisals company is well versed with the myths and facts regarding Home Appraisals.
- Myth: A specific strategy including calculation of price per square foot is implemented to know the property worth.
- Fact: The real value is determined considering the parameters like the condition, size, structure, quality and location of the property. Comparison between the prices and other significant features of properties is encouraged to get more accurate outcomes on your property.
- Myth: The property is valued at Good housewifery
- Fact: The property is valued at good home maintenance and not housekeeping. When the appraiser visits your place to inspect, he will be least bothered about witnessing messy wardrobe, chaotic dressing room or blotchy dishes. Your home will be valued on contracted passages, leaking tap, wet basement, broken walls etc.
- Myth: An appraiser only requires a business card to be chosen as an appraiser
- Fact: As per the law, any individual has to mandatorily attain minimum standards and undergo legal rules and policies to get entitled to become an appraiser. Upon successful completion of examinations and adherence to rules, the individual will get a license and can claim to be an appraiser.
- Myth: There is no difference between home appraisals and home inspection
- Fact: There lies a very significant difference between a home appraisal and inspection. Where the exclusive role of home appraiser is directed towards determining the residential property worth and warning the lenders. There, a home inspector carries out inspection and familiarize the buyer about his home conditions and surroundings.
The above-mentioned myths and facts are useful for both the buyers and sellers to consider. They will get a real picture of what price has to be offered and what accepted. They will be free of the misconceptions occurring during the process and outcomes.