What all is he looking for? My realitor said he needs to come in the house im just curious what he checks. I cleaned my butt off today. I hope it was worth it!
2007-07-15 18:54:58 · 6 answers · asked by free taco 1 in Business & Finance ➔ Renting & Real Estate
As an appraiser myself here is the inside scoop. We are there to determine the fair market value of your house. He/she will assess the condition of the property (look for apparent features that will affect the property value). They will document the physical features of the property and compare your property with other houses that have sold in the area. If your property is similar to other properties that have sold your value will be close, if it is inferior your value value will be lower, and if superior your value will be higher.
2007-07-15 20:03:26 · answer #1 · answered by tianaramal 4 · 0⤊ 0⤋
Well, it never hurts to clean the place nicely, but appraisers aren't concerned with housekeeping. They will enter the premises to check for the condition of the interior, relative to 'wear and tear', the quality of the interior appointments, and the number of appointments. This is to determine whether the property falls into 'below average, average, or above average' for similar properties. Square footage measurements may be taken, and the general condition and location of the property are denoted. Notes will be taken as to the propriety of the property for the general neighborhood. (You won't get a high appraisal on a mansion in a ghetto)
After that is done, the appraiser will retire to his office and start working, seeking sale values of comparable properties to your own. Adjustments will be made as needed (you have a fireplace, comparables do not), and then an appraised value will be determined.
(Comment: stevesherri is correct, but he is talking about a house INSPECTOR, and not an appraiser)
2007-07-16 07:23:05 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
An appraiser the way I understand it, just wants to see that the roof is still on, the walls havent cracked or collapsed, and that the property is worth X amount. They simply try to give you a better idea of what you can get for the property if you are selling or renting.
Cleaning will help a bit, but these folks are rather good at spotting things that others wouldn't...
2007-07-16 02:06:58 · answer #3 · answered by Ben B 1 · 0⤊ 1⤋
They are there to confirm the value of the property. Also that the potential and physical condition of the property will hold said value.
There is a difference between an appraiser and a home inspector.
2007-07-16 02:04:47 · answer #4 · answered by Willems_grandpa 3 · 0⤊ 1⤋
they are pretty thorough...
i just paid my inspector $355 and he was all thru the basement and all up in the attic and they take pictures of everything from broken window panes, missing brick mortar to cracks in the concrete sidewalks/steps. they also send scopes down chimney's and check for cracks in the stack tiles. they turn on all faucets, open/close all windows and screens, flush toilet several times, check outlets for power, check light switches for power. they check furnace, AC, power panel boxes and exteriors.
don't be alarmed by it - its only a guide line for the new buyer and if all was working for you then it will be fine for the new buyer.
good luck in the sale!!
inspectors do not have anything to do with the value price of the property or what its worth. only the structual aspects. only an appraiser can determine property value as can a real estate agent using comparable market data.
2007-07-16 02:02:57 · answer #5 · answered by stevesherri 4 · 0⤊ 1⤋
He'll be coming to work out an approximate selling amount for the owner. It doesn't necessarily mean that the owner is selling - they may need it for financial purposes.
2007-07-16 02:05:05 · answer #6 · answered by cosmic_beads 3 · 0⤊ 1⤋