Needville Texas Real Estate Appraisals

You have the right to ask for a copy of the appraisal from your bank. The Equal Credit Opportunity Act (ECOA) requires creditors to automatically deliver a free copy of house appraisals and any other written valuations on the property once they’re completed, regardless of whether credit is extended, denied, incomplete, or withdrawn.

When estimating the price of a house, the appraiser will take into consideration sizeable upgrades such as new flooring throughout a home, new appliances, solid surface counters, bathroom updates, expansive cornicing, enclosed patios and outdoor kitchens, and additional garage count. Since some updates may cost more to implement than they can increase value of a house, it is wise to have a experienced home appraiser provide a return on investment analysis instead of presuming the owner’s style will have a positive impact in the current market.

Not on its own. The first step for a property appraiser is to look at all possible comparables in the market area. An appraiser thoroughly looks for houses that share the most comparable features, square footage being a major one. But if none can be found then he/she can look for extra amenities that may make up for the living area difference. Issues that negatively affect your home’s price could arise if you happen to be the biggest and nicest house in the market area. In isolated scenarios an appraiser may decide that the most comparable home sales are located in a different community.