Real Estate Appraisals: How Do Georgia Appraisers Determine a Property’s Value?

When you are looking to sell your home you cannot avoid getting a visit from an appraiser. It does not really matter even if your buyer absolutely adores your home and would gladly pay what you ask. The lender will still require a professional appraiser to determine what your home is worth as a part of the selling process.

Contrary to popular belief the value of a property is not determined after the appraiser completes the inspection. In fact, the appraiser already has a general idea of the property’s value when they schedule an inspection. So how does an appraiser determine the worth of your home?

Here Are What Appraisers Look at:

Site. Your appraiser will look at the location of your property and will take the view, lot size, utilities, landscaping features, zoning and other external factors into consideration when determining the market value of your home. Since most home buyers would welcome the opportunity to expand, properties with larger lots and square footage will naturally command a higher value.

Exterior Design. The general construction of your home will largely determine the value of your property. The appraiser will pay serious attention to your foundation, walls and roof since any damage to these components could make your home inhabitable.

Condition of the Interior. The interior of your home is just as important as the exterior so expect your appraiser to take a look at your flooring, walls, plumbing, electrical, windows and doors. The condition of your kitchen and bathroom will also affect your home’s final value.

Home Improvements. Any renovations, upgrades and other added features will also contribute to your home’s final value.

Neighborhood. You’ll get additional points if your property conforms to the neighborhood. After the appraisal the information gathered during the inspection will then be used to evaluate what your home is worth using the comparable sales price approach. The appraiser will use Real Estate Data collected for homes sold by agents in the marketplace (MLS listing database) within a certain distance of your home over the last six months. Any necessary real estate appraisal adjustments based on the features and characteristics of the other homes will be made to complete the appraisal.

For more valuable tips on selling or buying a home, please visit my site at www.pamsantoro.com  . You can also contact me at 678-656-6627 if you have any questions about local market conditions, financing or anything that can help you with in your search for real estate. Remember, no one sells a home like a Mom!