Tomball Texas Real Estate Appraisals

A professional appraisal is a formal, impartial estimate or estimate of value, typically written and substantiated by the inclusion and analysis of pertinent market information. Unlike a Broker, a home appraiser is obligated by licensing authorities to have no interest connected with the sale of a home and their service costs cannot be based on the market value of the property. Only a state certified appraiser can deliver a professional appraisal. A broker price opinion approximates the market value of a home and is performed by a real estate broker or agent. Truthfully, the motive in creating the report is the most notable disparity between a broker price opinion and an appraisal. While appraisers must be unbiased and disconnected from the estimation and sale of the home, agents are usually working to gain a listing and earn a commission. This could lead to inappropriate bias on the Broker’s opinion due to the eagerness to gain a customer. A professional appraiser is unfettered and not being paid a commission on the property sale. The completion of a fair and accurately reported appraisal service is the appraiser’s sole responsibility.

Appraisers may be “handcuffed” when decent comps are hard to attain. The typical acceptable timeframe for comparable sales is 24 weeks but the appraiser may find they must go further back in time and adjust for the age of the sale, or look in other neighborhoods to find a comparable neighborhood that has recent sales. All of these options sound alarms with a mortgage company, but it doesn’t always mean there’s a problem; it just means there will be heightened examination on the appraisal.

Most often not, appraisers are taught to disregard any mess in the house. Being uncleaned shouldn’t be congruent to poor maintenance though. To avoid any potential issues you should make your home reasonably presentable.