Pasadena Texas Real Estate Appraisals

An appraiser’s inspection of the home is simply for the basis of comparison of other properties, where an inspection is the basis for the overall condition of all components of that specific home. While the inspection is taking place, a house appraiser should take notes of what the Subject property is adjacent to. If the property being evaluated has a detrimental view, such as a parking lot or commercial view, a real estate appraiser will look for at least one additional sale that shares the same view when doing their research. House appraisers make adjustments in the comparable sales grid within the appraisal to demonstrate similarity or dissimilarity between the Subject and the comparable sale. It is the appraiser’s right to ask certain questions regarding the condition that may affect the value. In any case, if you feel your home has external or internal issues that may be unnoticeable to the visible eye of an appraiser, you may entertain the idea of seeking the opinion of a real estate inspector.

If they did not request the appraisal then no. The listing broker is not given a copy of the appraisal report unless the buyer decides to release the report. A home appraiser will typically inform the listing broker that the appraisal has been completed and sent to the client. A property appraiser is not permitted to reveal any other data about the appraisal.

Banks will almost always use the contract amount or the appraised value, whichever is lower, to set your LTV. It would only affect you if the value came in below your sales price because now your loan amounts would require refiguring. In the case of a higher appraiser’s report you know the house has preexisting equity. Keep in mind also that the owner is not provided a copy of the appraisal report so they will not know that it came in above the contract price.