How important is an appraisal?
The easiest way to sum up what an appraiser does is tell you what your home is worth. The appraiser comes to your house and lists the number and size of the rooms and all amenities, such as a fireplace, porch, pool or garage. The appraiser will compare your home to other homes that have sold recently that are similar. The appraiser then estimates what your home might sell for. This is called an "appraisal."
What is a real estate appraiser?
A real estate appraiser is an impartial, third party who can provide an objective estimate of the value of your property. The appraisal is supported by the collection and analysis of data pertaining to the home. A real estate appraiser will only place a value on real property (land, home, garages, etc.), not personal property (furniture, decor). The appraiser determines the physical characteristics of the property and then estimates a value based upon three common approaches to value:
• Cost Approach
• Sales Comparison Market Approach
• Income Capitalization Approach
A NC licensed real estate appraiser must meet nationally established standards for education and experience, and pass an examination. A state licensed appraiser conforms to national ethical and professional standards, which set the standards for ethics, competency and confidentiality governing professional appraisal practices.
Should I use an appraiser?
You may need the services of an appraiser whenever you need estimate of the value of your property. Usually, this occurs when you are purchasing a new home and sometimes when you are selling an existing home.
How long will an appraisal take?
The actual inspection of the property can take anywhere from 30-45 minutes. Sometimes it can take longer if the house is difficult to measure because of a lot of angles or unusual floor plan. After the first inspection of the property the appraiser will spend time in the office reviewing this information and analyzing similar properties. Then the appraiser will issue his finding in a report which can take anywhere from 2-5 days usually.
Water in our Veins–Meet Lake James Real Estate
Please call us if we can help with any of your real estate needs at Lake James – who better to help you than people who live, play and work here!
Polly Leadbetter – Owner/Broker P/ 828-584-9999 C/ 828-443-5407
Shane Cook – Sales P/828-584-9999 C/828-443-3205
Rhonda Edge – Sales P/828-584-9999 C/828-443-6595
Amanda Hotchkiss – Sales P/ 828-584-9999 C/ 828-335-3001
Marc Parham – Sales P/828-584-9999 C/828-443-1337
Denice Rechtiene – Sales P/828-584-9999 C/828-432-6976
