It’s critical that you choose an appraisal firm that knows the local market and takes the time to devote to analyzing
all of the pertinent appraisal factors as they relate to your property.
An appraisal is a detailed analysis of
all the factors that determine the value of a property including:
- Comparable properties
To determine comparable properties, an appraisal typically includes
a review of:
- Sales of similar properties nearby
- Recent tax assessments
- Replacement Cost (also
called the “cost of rebuilding”)
At the completion of an appraisal, you can expect a comprehensive report
that details the above information in a format acceptable to you and your lender or other interested financial institution.