Sacramento Residential Real Estate Appraisals & Appraisers

Sacramento Residential
Real Estate Appraisals &
Appraisers

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Sacramento Residential Real Estate
Appraisals & Appraisers
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.


How appraisals and appraisers connected - Appraisers are
licensed practitioners who are tasked to appraised real
estate properties.

You can be an appraisal once you complete a coursework
and internship hours that has something to do with the
ins and outs of the real estate industry.


"The lender might use an appraiser on its staff, or contract
with an independent appraiser.

If you are allowed to choose the appraiser, and it isn't
someone the lender is familiar with, the results might be
subject to review before they are accepted.


The appraiser should be an objective third party, someone
who has no financial or other connection to any person
involved in the transaction."

Here are Simple things you are going to see on Residential
Appraisal Report - Appraisals are very detailed reports,
but here are a few things they include:


Details 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 to
the property's value, such as poor access to the property.


Notations about seriously flawed characteristics, such as a
crumbling foundation.

An estimate of the average sales time for the property.

What type of area the home is in a development.


Residential Appraisal Methods

There are two common appraisal methods used for
residential properties and these are;

Sales Comparison Appraisal - The appraiser as a
professional will estimate the value of a property in the
area by comparing it to similar properties found in the
neighborhood.


This method is used to appraise properties that have been
in the market for several years already.

Sales comparison approach is good to use for those home
owners who have multiple properties under their
ownership.



No two properties are exactly alike, so the appraiser must
compare the comps to the subject property, making
paperwork adjustments to the comps in order to make
their features more in-line with the subject property's.


Cost Approach Appraisal –

This one is another appraisal method but for new
properties that can be found in the region.

The appraiser estimates how much it would cost to
replace the structure if it were destroyed.


Appraisal in simple explanation - Before you can be
approved for your bank loan, you must be able to appraise
your property.

The explanation here is plain and simple, The bank wants
to be sure its investment is covered in case you default on
the loan.


If the property appraises lower than the sales price, the
loan might be declined, but that isn't the only hurdle it
must pass.

Other facts on the appraisal can be a problem, too.


The bank probably won't like it if the estimated time to
sell the property is longer than the area average.

If the appraiser notes that entry to the property is from a
private, shared road the bank might want to see a road
maintenance agreement signed by everyone who uses the
road, verifying that maintenance is shared by all parties."


Those are just a few examples of negatives that could stall
your purchase. The lender will study the appraisal
carefully before determining whether or not the property
qualifies to serve as security for your loan.

But when you have properly undergone appraisal, it is
easy for the bank to decide on approving your loan.


Searching for the best Realtor that can help you in your
Sacramento Real Estate needs?

I can help!

Visit my website today to learn more about the services
that I provide in Real Estate Sacramento.


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Sacramento Residential Real Estate Appraisals & Appraisers

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