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What Does a House Appraiser Look For? Internal Factors. Inside the home, the appraiser is chiefly concerned with total square footage... It's Not About the Decor. Appraisers are primarily concerned about the condition of the property,... The Sales Comparison. The most important tool an appraiser ...
Now that you understand what appraisers look at during a real estate appraisal you probably want to know how they calculate the actual market value from this information. The way most residential property is evaluated is by following what is known as the comparable sales price approach .
Here, the appraiser looks closely at the structure, condition, and size, including: The home’s square footage. Number of bathrooms and bedrooms. Remodeled versus updated kitchen/baths. Foundation type. Whether there’s a full or partial basement, crawl space, or attic. Materials used for the ...
Appraisers give the lender as much information as possible about the property offered as collateral in order to assist the lender in making an informed decision. Looking at the home in question is one of the most important aspects of the appraisal process. Appraisers are trained to look at many aspects of both the exterior and interior of homes.
Don’t Hover. Appraisers are looking for the overall structure of the home to gauge the quality of the build. The size of the property will be factored into the total value. Also, the upkeep of the interior and exterior features helps tell the story of the home.
What the appraiser finds can be the difference in whether or not you'll get the house you want or be able to sell the one you don't. A property appraisal is different from a property inspection . The home inspector is looking for issues in the home that the buyer should be aware of before purchase (for instance, mold or a leaking roof).