Sacramento Residential Real Estate Appraisals & Appraisers

449 views

Published on

Real estate appraisal is a method used to know the exact value of a real estate property. The appraiser will base the value of the property according to market value. This method is needed because compared to corporate stock, real estate transactions occur very rarely.

For more information please visit us at http://www.DavidYaffeeTV.com

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
449
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
11
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Sacramento Residential Real Estate Appraisals & Appraisers

  1. 1. Sacramento ResidentialReal Estate Appraisals & Appraisers©www.DavidYaffeeTV.com
  2. 2. Sacramento Residential Real Estate Appraisals & AppraisersReal estate appraisal is a method used to know the exactvalue of a real estate property.The appraiser will base the value of the propertyaccording to market value.This method is needed because compared to corporatestock, real estate transactions occur very rarely. ©www.DavidYaffeeTV.com
  3. 3. Sacramento Residential Real Estate Appraisals & AppraisersHow appraisals and appraisers connected - Appraisers arelicensed practitioners who are tasked to appraised realestate properties.You can be an appraisal once you complete a courseworkand internship hours that has something to do with theins and outs of the real estate industry. ©www.DavidYaffeeTV.com
  4. 4. Sacramento Residential Real Estate Appraisals & Appraisers"The lender might use an appraiser on its staff, or contractwith an independent appraiser.If you are allowed to choose the appraiser, and it isntsomeone the lender is familiar with, the results might besubject to review before they are accepted. ©www.DavidYaffeeTV.com
  5. 5. Sacramento Residential Real Estate Appraisals & AppraisersThe appraiser should be an objective third party, someonewho has no financial or other connection to any personinvolved in the transaction."Here are Simple things you are going to see on ResidentialAppraisal Report - Appraisals are very detailed reports,but here are a few things they include: ©www.DavidYaffeeTV.com
  6. 6. Sacramento Residential Real Estate Appraisals & AppraisersDetails about the subject property, along with side-by-side comparisons of three similar properties.An evaluation of the overall real estate market in the area.Statements about issues the appraiser feels are harmful tothe propertys value, such as poor access to the property. ©www.DavidYaffeeTV.com
  7. 7. Sacramento Residential Real Estate Appraisals & AppraisersNotations about seriously flawed characteristics, such as acrumbling foundation.An estimate of the average sales time for the property.What type of area the home is in a development. ©www.DavidYaffeeTV.com
  8. 8. Sacramento Residential Real Estate Appraisals & AppraisersResidential Appraisal MethodsThere are two common appraisal methods used forresidential properties and these are;Sales Comparison Appraisal - The appraiser as aprofessional will estimate the value of a property in thearea by comparing it to similar properties found in theneighborhood. ©www.DavidYaffeeTV.com
  9. 9. Sacramento Residential Real Estate Appraisals & AppraisersThis method is used to appraise properties that have beenin the market for several years already.Sales comparison approach is good to use for those homeowners who have multiple properties under theirownership. ©www.DavidYaffeeTV.com
  10. 10. Sacramento Residential Real Estate Appraisals & AppraisersNo two properties are exactly alike, so the appraiser mustcompare the comps to the subject property, makingpaperwork adjustments to the comps in order to maketheir features more in-line with the subject propertys. ©www.DavidYaffeeTV.com
  11. 11. Sacramento Residential Real Estate Appraisals & AppraisersCost Approach Appraisal –This one is another appraisal method but for newproperties that can be found in the region.The appraiser estimates how much it would cost toreplace the structure if it were destroyed. ©www.DavidYaffeeTV.com
  12. 12. Sacramento Residential Real Estate Appraisals & AppraisersAppraisal in simple explanation - Before you can beapproved for your bank loan, you must be able to appraiseyour property.The explanation here is plain and simple, The bank wantsto be sure its investment is covered in case you default onthe loan. ©www.DavidYaffeeTV.com
  13. 13. Sacramento Residential Real Estate Appraisals & AppraisersIf the property appraises lower than the sales price, theloan might be declined, but that isnt the only hurdle itmust pass.Other facts on the appraisal can be a problem, too. ©www.DavidYaffeeTV.com
  14. 14. Sacramento Residential Real Estate Appraisals & AppraisersThe bank probably wont like it if the estimated time tosell the property is longer than the area average.If the appraiser notes that entry to the property is from aprivate, shared road the bank might want to see a roadmaintenance agreement signed by everyone who uses theroad, verifying that maintenance is shared by all parties." ©www.DavidYaffeeTV.com
  15. 15. Sacramento Residential Real Estate Appraisals & AppraisersThose are just a few examples of negatives that could stallyour purchase. The lender will study the appraisalcarefully before determining whether or not the propertyqualifies to serve as security for your loan.But when you have properly undergone appraisal, it iseasy for the bank to decide on approving your loan. ©www.DavidYaffeeTV.com
  16. 16. Sacramento Residential Real Estate Appraisals & AppraisersSearching for the best Realtor that can help you in yourSacramento Real Estate needs?I can help!Visit my website today to learn more about the servicesthat I provide in Real Estate Sacramento. ©www.DavidYaffeeTV.com
  17. 17. Sacramento Residential Real Estate Appraisals & Appraisers Brought To You By ©www.DavidYaffeeTV.com

×