What do appraisers need to know when valuing a home?
I’ve had this question asked numerous times over the years so I wanted to share my answer with you. When valuing a single family home, appraisers must segregate the various areas of the home.
Can a home with an in-law suite be appraised?
If you do not get approval with your local building department then it could cause you problems down the road whenever the home is appraised or when you go to sell. From an appraisal perspective, there are various things that we consider whenever appraising a home with an in-law suite.
What makes a room a bedroom riverfront appraisals?
Per the International Residential Code (IRC) – as well as ANSI, another measuring standard most appraisers follow, habitable rooms must have a floor area (square footage) of no less than 70 square feet. These rooms also must not be less than 7 feet in any horizontal direction. A 7×10 room will be just fine. A 5×13 room, however, will not.
How long does it take for a home appraisal?
How Long Does a Home Appraisal Take? It can take anywhere from 15 minutes to 10 days or so. Newer homes in good repair are easier to assess, while older homes that may have issues can take longer. Again, cleaning your home may help speed up the process.
How does the number of bedrooms affect your appraisal?
Typically the number of bedrooms will have a direct affect on the appraisal value, however, it isn’t always that simple. The amount of bedrooms should also have a direct correlation to the square footage of the home.
How can I get an appraisal for my home?
To learn more about what affects your home’s appraisal value and what our team can do for you give us a call today at 941-743-3700. Obtaining your certified property appraisal is just one click away!
When do you get the results of the home appraisal?
When will you get the results of the home appraisal? Once the appraiser leaves, you’ll no doubt be anxious to know the value they’re giving to your home. The appraisal report could come back in about a week but may take at least 10 days. Know the appraiser may need to call around, check for permits, and verify certain information for the report.
Why does an appraiser mark a room as cost to cure?
In some cases, an appraiser will identify an issue with the property that must be factored into the appraisal. This could be a room addition that doesn’t have a permit. In that case the appraiser may mark the room as a “ cost to cure ” line item on the report, which could lower the appraised value for a given amount.
