I Apppraise

FAQ 1


 

1. WHAT IS A REAL ESTATE APPRAISAL?

It is an expert opinion of value based sales of other homes within the immediate area. The mortgage guidelines for a home appraisal are:
  – Sales within six (6) months of the report
  – sales within one (1) mile of the subject property

The sales information used is data collected and made available by two primary sources:
  – County Registrar of Deed
  – Realtors, Multi-List Services

Using this sales approach (or market data approach) for establishing the appraiser’s opinion of value for your property is the most typical and most recognized approach today in our local real estate residential market.

The above description is the "guts" of the report. However, a complete description of the subject property, which includes address and any other legally recognized descriptions, is also used in the report.

 

 

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I Apppraise