Tracey Fiorelli
Janice Mitchell Real Estate, Inc | 508-509-8162 | [email protected]


Posted by Tracey Fiorelli on 11/2/2019

A home appraisal is paramount for a house seller. If a seller enters the real estate market with an appraisal report in hand, he or she can use the report's property valuation to determine the optimal price for a residence. Then, this individual can set an aggressive price for his or her house from day one of the home selling journey.

Ultimately, not all home appraisers are equal. Some of the key factors to consider as you weigh the pros and cons of hiring a home appraiser include:

1. Industry Experience

Hire a home appraiser who knows the ins and outs of the real estate industry – you will be happy you did. If you have a real estate expert at your side, you can receive a data-driven appraisal of your house.

Oftentimes, it helps to perform lots of research before you hire a house appraiser. If you reach out to an appraiser directly, you can learn about his or her industry expertise. Plus, you can use this opportunity to receive immediate responses to any home appraisal questions.

2. Client Referrals

Although it may be tough to determine exactly how an appraiser will analyze a house, it generally is a good idea to explore how past clients feel about this professional. If you request client referrals, you can get in touch with an appraiser's past clients. You then can receive firsthand insights about what it is like to work with this appraiser.

Typically, a home appraiser can provide client referrals upon request. If you allocate time and resources to request client referrals and connect with an appraiser's past clients, you could increase your chances of hiring a top-notch appraiser to assess your residence.

3. Your Home Selling Timeline

There is no guarantee that a home appraiser will be available on short notice. If you are operating on a tight home selling timeline, you may want to reach out to multiple home appraisers in your city or town. That way, you can find a first-rate home appraiser who can review your residence right away.

As you get set to add your house to the real estate market, you may want to hire a real estate agent, too. This housing market professional can put you in touch with the top home appraisers in your area. Also, he or she is happy to lend a helping hand at each stage of the property selling journey.

Let's not forget about the assistance that a real estate agent will provide after you list your house, either. At this point, a real estate agent will promote your residence to potential buyers. And if you receive an offer to purchase your house, a real estate agent will help you make an informed decision about whether to accept, reject or counter this proposal.

Ready to add your house to the real estate market? Hire a home appraiser, and you can receive a property valuation that you can use to price your residence competitively from day one of the house selling journey.





Posted by Tracey Fiorelli on 7/21/2018

Home appraisals are an important part of the buying and selling process. Lenders use appraisals to make sure that the home is worth what the borrower is paying. A home’s appraisal value is based on a number of factors, all of which we’ll discuss in this post.

Whether you’re a buyer, seller, or are just learning about the process of buying a home so you’ll be better equipped in the future, this article is for you.

How is a home appraisal different from an inspection?

While home appraisals and inspections are performed by licensed or certified professionals, they have to different functions. An inspection ensures the safety of a home, as well as whether or not it will need repairs in the immediate or near future.

Appraisals, on the other hand, aim to value a home based on its property value, the size of the property, and the location of the property. The condition of the home is a factor in valuing a home, which is why some people confused appraisals with inspections.

Who pays for appraisals?

Like most closing costs, a home appraisal is a burden that falls on the buyer. Typically, the lender you choose will work with will actually order the appraisal. The cost, which usually amounts to a few hundred dollars, can be added to your closing fees. You can find the cost for an appraisal listed on the Closing Disclosure document provided by your chosen lender.

Which factors determine the home’s value?

To appraise the house itself, appraisers will look at the condition of the home. They’ll also weigh the features of the home in their valuation--things like the number of bedrooms and bathrooms, for example.

However, the two key characteristics of a home that contribute to its value are its age and size.

Which external factors contribute to the home’s value?

As you might suspect, the location of your home matters greatly when it comes to appraisals. Homes are appraised based off of average prices for their neighborhood and region.

Other location factors include how accessible the home is, if it’s located on a waterfront, and whether it has desirable views.

When does a home get appraised?

While your experience may vary based on your specific circumstances, most appraisals occur after a buyer has signed a purchase contract. One this is done, the lender will take the steps necessary to order and process the appraisal.

How long is the home appraisal process?

Once the buyer has signed a purchase contract, the appraisal is usually completed and processed within 7 days. The appraisal report will be sent to the lender. This report contains the appraised value of the home. Buyers are entitled to a copy of this report, and should keep one for their own records.




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