Why Accurate Valuations
are essential
Understanding Real Estate Appraisals – What You Need to Know
Discover Your Property’s Value. Please contact us for
further assistance.
At Accent Realty, we believe that knowledge is power when it comes to real estate. Whether you are a homeowner, investor, lender, or attorney, understanding how property appraisal work can help you make informed decisions. Here, we break down the appraisal process, key factors affecting property value, and why accurate valuations are essential for various real estate transactions.
What Is a Real Estate Appraisal?
A real estate appraisal is a professional, unbiased estimate of a property’s market value conducted by a
certified appraisal. The appraisal considers factors like property condition, location, recent sales, and
market trends to determine an accurate valuation.
Why Do You Need an Appraisal?
A real estate appraisal is required in many situations, including:
Buying or Selling a Home
Ensures fair pricing based
on current market
conditions.
Refinancing a Mortgage
Determines if the home
value qualifies for a better
loan rate.
Property Tax Appeals
Helps homeowners dispute
over-assessed property
taxes.
Divorce & Estate Settlements
Provides an equitable
valuation for legal
purposes.
Investment Analysis
Assists investors in
making profitable property
decisions.
How the Appraisal Process Works
Our team at Accent Realty follows a structured, professional process to ensure fair
and accurate property valuations.
Initial Consultation & Appointment Scheduling
- The appraisal process begins with a formal request from the lender, homeowner, attorney, or buyer.
- We schedule an on-site property inspection at a
convenient time.
Market Research & Comparable Sales Analysis
- We analyze recently sold properties (comps) that are
similar in size, location, and condition. - Our experts study local market trends, neighborhood growth, and economic conditions that impact property value.
Report Submission & Client Review
- The final appraisal report is delivered electronically to the client, lender, or legal party.
- Clients can review findings and ask for clarifications if needed.
On-Site Property Inspection
- A licensed appraisal specialist visits the property to evaluate its
condition, layout, and unique features. - Key elements inspected include square footage, number of bedrooms/bathrooms, structural integrity, renovations, and lot size.
- The appraisal specialist takes photos, notes, and measurements to document the property.
Valuation Report Preparation
- We compile all gathered data into a comprehensive
appraisal report. - The report includes:
-
- Property Description – Details of the home, improvements, and unique attributes.
- Comparable Sales Data – A comparison of recent home sales in the area.
- Market Conditions & Economic Influences – Factors affecting home prices.
- Final Valuation – The certified fair market value of the
property.
Factors That Influence Property Value
Several key factors play a role in determining a property’s appraisal value:
- Location – Proximity to schools, parks, highways, and amenities affects desirability.
- Size & Usable Space – Larger homes and well-utilized floor plans
increase value. - Condition & Upgrades – Well-maintained properties with renovations and modern features appraise higher.
- Market Trends – The overall supply and demand in the housing market impact pricing.
- Comparable Sales (Comps) – Recent sales of similar homes in the
neighborhood set the benchmark.
Common Questions About Appraisals
Q: How long does an appraisal take?
The on-site inspection typically lasts 30 minutes to 1 hour, depending on property size.
The final appraisal report is delivered within a few business days.
Q: Can I influence the appraisal value?
No. An appraisal must be objective and independent to comply with industry regulations.
However, homeowners can improve home value by making repairs, upgrading features, and ensuring good curb appeal.
Q: What happens if my appraisal is lower than expected?
If a home appraisal lower than the sale price, buyers may need to renegotiate with sellers or provide additional financing.
Homeowners can appeal the appraisal with supporting evidence if they believe the valuation is incorrect.
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