One of the first steps within the appraisal process is to review characteristics regarding subject property and to perform a cursory review of the local market and competitive properties. The next step is to inspect your property, which is just as critical however there are often limitations that can turn a straight forward assignment into one with several delays.
1) It’s vital to obtain site information in regards to the size, shape, boundaries, restrictive convents and easements. A survey, plot plan or location certificate will greatly assist your appraiser. Overlooking any of these items can drastically impact the final estimate of value. For example. it is quite common to value a property in a mature neighborhood that is situated on a spacious lot. Care and due diligence must be performed to ensure that there is no subdivision potential available, which could essentially turn the site into a double lot from an appraiser’s perspective.
2) A copy of the original building plan can assist the appraiser is determining the living area, review of the building systems (plumbing, mechanical, heating, electrical) along with noting unique features which may add value. This is especially valuable in custom architecturally designed homes that offer an open concept floor plan within various levels.
3) Documentation of maintenance and renovations which have occurred to the property in recent times. This can assist the appraiser in determining the overall condition of your home. When was your roof shingles replaced? Have you enhanced insulation levels? When was the bathrooms renovated? All of these items greatly impact on market value.
4) A copy of your property tax assessments, which can also determine if your home is adequately assessed.
5) Ensure that all areas are accessible not only within the interior of the dwelling but around the exterior perimeter. Construction and animal debris can limited accessibility throughout the home!
6) It’s beneficial to share previous appraisal reports since there may be components that are not available. If your aware of any comparable sales near your home- now is the time to discuss.
7) If you have pets that may be nervous toward strangers, it might be best to keep them contained in a secure area.
Following these items can save your appraiser time, creating faster turnaround times for your property appraisal!
Tuesday, April 19, 2011
Tips to expedite the appraisal process
Our first step of the appraisal process is to review characteristics regarding subject property and to perform a cursory review of the local market and competitive properties. The next step is to inspect your property, which is just as critical however there are often limitations that can turn a straight forward assignment into one with several delays.
1) It’s vital to obtain site information in regards to the size, shape, boundaries, restrictive convents and easements. A survey, plot plan or locational certificate will greatly assist your appraiser.
2) A copy of original building plans can assist the appraiser is determining the living area, review of the building systems (plumbing, mechanical, heating, electrical) along with noting unique features which may add value.
3) Documentation of maintenance and renovations which have occurred to the property in recent times. This can assist the appraiser in determining the overall condition of your home.
4) A copy of your property tax assessments, which can also determine if your home is adequately assessed.
5) Ensure that all areas are accessible not only within the interior of the dwelling but around the exterior perimeter.
6) It’s beneficial to share previous appraisal reports since there may be components that are not available. If your aware of any comparable sales
7) If you have pets that may be nervous toward strangers, it might be best to keep them contained in a secure area.
Following these items can save your appraiser time, creating faster turnaround times for your property appraisal!
1) It’s vital to obtain site information in regards to the size, shape, boundaries, restrictive convents and easements. A survey, plot plan or locational certificate will greatly assist your appraiser.
2) A copy of original building plans can assist the appraiser is determining the living area, review of the building systems (plumbing, mechanical, heating, electrical) along with noting unique features which may add value.
3) Documentation of maintenance and renovations which have occurred to the property in recent times. This can assist the appraiser in determining the overall condition of your home.
4) A copy of your property tax assessments, which can also determine if your home is adequately assessed.
5) Ensure that all areas are accessible not only within the interior of the dwelling but around the exterior perimeter.
6) It’s beneficial to share previous appraisal reports since there may be components that are not available. If your aware of any comparable sales
7) If you have pets that may be nervous toward strangers, it might be best to keep them contained in a secure area.
Following these items can save your appraiser time, creating faster turnaround times for your property appraisal!
Subscribe to:
Posts (Atom)
