county appraiser
If you sell your home with or without real estate agent, you should get an assessment before deciding on the selling price. I remember a retired couple that set their prices based on the analysis of the agent. His house is sold in three days! When the assessment was $ 20,000 above the sale price. It was a terrible punishment, but can be as bad, if the price is too high and that just sits on the market. An evaluation from the outset to protect its capital and well worth the cost.
Have an idea about what is involved in evaluating a piece of property can be a great help to maximize the value of experience. The following are important steps in the sequence normally followed by the evaluators:
1. Searching the house in size, bedrooms, bathrooms, year of construction, size Lot and area.
2. Collect data and recent sales in the neighborhood. The evaluator must locate at least 3 similar sized homes that have sold in the district with the last six months. Homes must be within one mile of the subject property. These homes are called "comparable properties" or "Comps".
3. The inspection mission has two parts: a thorough inspection of the subject property and comparable properties outside inspection.
The inspection of the property in question is taking photos of the street scene in front of the house and in the back of the house, which may include parts of the court. The evaluator must perform an internal inspection of the state, Taking note of all the elements that affect or add to the value of your home. It will also develop a floor plan of the house while inspection is made.
The inspection of comparable properties is limited to external inspection. For the characteristics that may not be visible from the street, The appraiser uses: reports Multiple Listing Service (MLS), California Market Data Cooperative (CMDC), county public records and assessment records to help determine the condition.
4. After the field inspection has been completed, the evaluator must determine which comparable properties are more similar to this. The appraiser made minor adjustments in the value of differences. After you have made the necessary adjustments, the appraiser must go through a process of reconciliation with the three comparable properties to determine a final estimated value of the property. This method is called direct sales comparison approach to value, "and represents almost all considerations to determine the value of a property of a single family.
It is important to remember that the appraiser must take photographs of the scene street and the front and back of the house. The street scene gives the lenders some sort of idea about the kind of neighborhood where the home. The photo on the front of the house gives the lender an idea of its condition and curb appeal. Finally, the photo on the back of the house and backyard is another indicator for the lender assistance Home and maintenance.
In most cases (over 90% the time) what you see in the status of an outdoor fireplace is repeated almost exactly in inside. Thus one of the most important things you can do to improve the value or perceived value of improving the street appeal of your home, … and remember to clean the backyard.
The appraiser will call in advance to make an appointment to inspect your home. In offering a time to provide any information on household size, number of bedrooms, bathrooms, swimming pool, enclosed terrace, etc. The more you know about the property before the inspection, the assessor can better concentrate on the pursuit of most comparable comparable. Doing your homework is to maximize the chances of having a good evaluation.
While home is inspected not follow the appraiser from room to cause distraction. Instead, allow inspection without problems. When the evaluator have problems, be close to answering. The time to talk about things I consider important is before or after the inspection.
In conclusion, the best thing you can do to increase the perceived value your home is prepared before the assessment. Clean it, put fresh paint as needed and clean up the mess inside and out. You must make all repairs necessary and manicured front and backyard!
About the Author:
Author: Connie Sanders has been in the real estate and mortgage industry for many years. Connie believes knowledge is power. She owns a free For Sale By Owner web site, and a mortgage information site at Mortgage Underwriting Guidelines.
Article Source: ArticlesBase.com – Home appraisal – How to Maximize Value
Montgomery County MD appraiser
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