Brookside Village Texas Real Estate Appraisals

An appraisal considers all the data that affect property price and formulates a more accurate picture of a property’s value. An appraisal assignment is prepared with an agreed upon set service fee which cannot be contingent upon the results of the appraisal, or the home market value. Only a Texas certified appraiser can provide a certified appraisal. A CMA or BPO is an less thorough estimate of market value, based on comparable sales in the neighborhood, carried out by a agent or broker. The most notable difference between a licensed appraiser and broker or real estate sales agent is their motive. A broker’s typical goal is to sign a property listing and earn a sales commission. This could result in inappropriate influence on the agent’s estimate based on the desire to gain a customer. A house appraiser is simply concerned with finishing the appraisal assignment and collecting their fee. Their sole objective is to deliver a fair, reliable and impartial appraisal.

Perhaps, maybe not. An appraiser will look over all applicable sales data in the area. The appraiser will review all comparables sales in your market area but may need to search for smaller homes that possess characteristics that compensate for the size difference. If your house is the biggest and has the most upgrades or desirable features then this could present an issue. In isolated cases a property appraiser may determine that the best similar house sales are in another community.

In special cases an appraiser may request records that only the customer has access to, but for the typical appraisal there isn’t anything an appraiser should need to finish the assignment. The sales contract is the one piece of information a real estate appraiser will want to scan over, if applicable. There may be certain facets of the sales agreement that could impact the appraisal value. You appraiser could also be aided by any of the following documents: A home survey that includes the home. A deed or title record showing the legal description. If selling, an inventory of personal property that will be included in the sale. An inventory of upgrades and improvements made in the last 3 years. Floor plans can be helpful to an appraiser, especially if the home has been added onto or structurally modified in any way.