Single-Family Home Appraisals

When it comes to real estate, single-family home appraisals account for the vast majority of all properties.  Both buyers and sellers are in a holding pattern until the appraiser arrives at the property, looks it over, and comes back with a figure for what he/she thinks the property is worth. The appraiser's valuation is his or her opinion of what the property is worth.  It doesn't matter what th...
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By in Residential

Appraising a multi-family property is usually more complicated than appraising a single-family home.  Two-, three-, or four-unit buildings are sometimes subject to confusion when it comes to arranging a loan for purchase or refinancing.  Generally, appraisers use the 'market value' approach when appraising these properties, but also must consider the 'income' approach. The purpose of an apprais...
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By in Residential

Home inspections and appraisals play key, but separate, roles in the home-buying and -selling process. A home inspection is primarily intended to protect the prospective buyer from purchasing a home with structural defects and other major problems. The home appraisal is meant to protect the lender from paying more than the house is worth. What Is a Home Appraisal? The bank requires that a proper...
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By in Real Estate Property

A probate case requires that the property of the deceased be evaluated, in order to determine the cash value of the property at the date of the death of the deceased. The probate court must know the total cash value of the property, prior to the distribution of the assets. Probate cases depend mainly on professional valuations to determine the cash value for "non-cash" assets, such as real esta...
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By in Estate Planning