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Information
for Home Owners |
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Click below for answers to
commonly-asked questions:
What is an
Appraisal?
Why do I need
an Appraisal?
What can I expect when my
Appraiser arrives?
Once I have bought
my home, what can I do to maintain or increase its value?
What is an Appraisal?
An appraisal is
an opinion as to the value, or the process of obtaining the value of your
home. An appraiser will look at the replacement value of a home,
comparisons with other like properties that have recently sold, and the
potential for income a property will generate in estimating the value.
They then present a final estimate of the value after all this data has
been fully analyzed.
Why do I need an Appraisal?
Appraisals
are obtained for several reasons.
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Settle an
estate |
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Settle
insurance value |
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Contest
property taxes |
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Determine
selling/buying price |
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Obtain a
loan |
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Extinguish
PMI |
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Divorce |
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Construction defect cases |
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Determine
the effects of a natural disaster (e.g., landslides, flooding) |
What can I expect when my
Appraiser arrives?
After the appraiser knocks on your door, they will:
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Take pictures of the front, back, and distinguishing
features of the house |
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Measure the house |
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Observe for size, quality, amenities, and condition |
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Appraiser might ask for homeowners association
information |
Once I have bought my home, what can I
do to maintain or increase its value?
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Maintaining
your roof |
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Periodically
replacing floor coverings, carpets, and tile |
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Capital
Expenditures: Build extra bedrooms or bathrooms, installing copper
piping, pool, Jacuzzi, etc. |
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Upgrade
consistently: Ensure that all rooms in the house share the same
decorative pattern |
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Landscaping,
blinds, wallpaper, and decorations do not necessarily increase the value
of your home |
Click here to contact James
J. Nicholas & Associates for a quote. |
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