What Goes Into an Appraisal?
Acquiring a home or business is the largest transaction some people may ever consider.
It’s likely you are familiar with the parties having a role in the transaction. The most recognizable person in the exchange is the real estate agent. Then, if the property is to be financed, the mortgage company provides the financial capital necessary to fund the exchange. The title company sees to it that all details of the exchange are completed and that the title is clear to transfer from the seller to the purchaser.
To learn more, Contact Us today to talk about your specific property.
Our Role
So, who’s responsible for making sure the property is worth the amount being paid? In comes the appraiser. We provide an unbiased estimate of what a buyer might expect to pay — or a seller receive — for a property, where both buyer and seller are informed parties. A Certified General Appraiser from J Alexander Grant Appraisal Group will ensure that you, as an interested party, are informed.
Appraisals start with the inspection
Our first responsibility at J Alexander Grant Appraisal Group is to inspect the property to ascertain its true status. We must actually see aspects of the property, such as the condition, the location, amenities, etc., to ensure they truly are there and are in line with what a typical purchaser would expect them to be. The inspection often includes a sketch of the property, ensuring the square footage is accurate and conveying the layout of the property. Most importantly, we look for any obvious features – or defects – that would affect the value of the property.
Research and Reporting
Back at the office, we research the important factors about your property such as the neighborhood characteristics, market trends, sales and transfer history, and a laundry list of other data that helps us in determining the value of your property. Once we have completed the research phase we then put together our final value opinion into the appraisal report that we deliver to you the client.
