Factors Considered in Real Estate Appraisals

Factors Affecting the Value of Property

There are several factors that will affect the overall outcome of the property.  First, the appraiser will need to consider the age of the home and if any improvements have been added since it was built. 

The appraiser will then consider what type of construction the home is, such as if it a brick home, whether it has vinyl siding, etc. 

The appraiser will evaluate the current condition of the home and how it compares to other homes in the area.  It’s important to remember the homes around your property and the condition they are in is an important factor where the appraised value is concerned.

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Selecting a Real Estate Appraiser

It’s important when you need a real estate appraisal done that you hire an experienced appraiser.  You want to hire someone who is familiar with the area where your property is located and who will not be swayed by either the buyer or the seller.  In many states, an appraiser needs to be licensed and certified.  If your state government has a web site, you might want to check with the applicable regulatory agency to make sure that the appraiser you are about to hire is licensed and certified. 

There are many factors that come into play in getting an accurate real estate appraisal, but if you know what to expect and you have an experienced appraiser, you will find the process is very simple.

"Factors Considered in Real Estate Appraisals" contributed by Doug Isaacson