Texas City Texas Real Estate Appraisals

Depending on the situation, it certainly could. Homebuyers often look at the curb appeal of a house and having a derelict property beside you may influence their view. Home appraisers mustwill take these factors, known as external obsolescences, into consideration when appraising a home. However, it is almost impossible to calculate a real world dollar value of affect this would have on the home value. So most appraisers would just make note of the obsolescence within the appraisal.

No way! Those sites are not a reliable source of data. Instead, appraisers mainly depend on the local Multiple Listing Service to search for verifiable sales and listing information. If a sale transpired outside the MLS, property appraisers can still use it if they are provided with verifiable sales data. Just so you know, we’re not crazy about those website due to all the incorrect and dated specifics. A better way to determine a ballpark value for a home is to search your local Multiple Listing Service and search for comparable homes in the same neighborhood that are pending or active.

A sales contingency dependent on appraisal signifies that if the house appraises for below the sales price the homebuyer can withdraw from the sales agreement without penalty. A good illustration is selling your house for $525,000 but getting an appraisal for only $485,000. If the buyer had the sales agreement written contingent on appraisal, then they would be allowed to terminate the contract.