Non complex residential appraisals usually take 2-3 days to complete after a 20-30 minute on site inspection.
This will depend on what the appraisal will be used for or who the end user will be. Will it be used for a listing price, purchase price or something else?
Non complex residential appraisals typically cost $350-$550. Complex , I.e., waterfront, acreage, larger than typical home, etc., assignments cost more.
By law, the client or person ordering the appraisal, which may or not be the home owner, own the report. The home owner must receive the report from the client.
Charlotte Valuations covers the following NC counties- Cabarrus, Gaston, Iredell, Lincoln, & Mecklenburg Counties.
Contact Charlotte Valuations for a price quote.
Charlotte Valuations offers consulting and appraisal services for eminent domain, market value, quick sale value, estate distribution valuations and other services to suite your needs.
Your home is typically one of the largest assets you purchase or own. A well researched, professional valuation to know what your property is worth in the present, in future or as of a past date makes good business sense. In addition, knowing the market value of your property is important if you are selling your home because it helps determine the asking price. Many sellers who do not understand this concept will price their home too high or too low, both of which could have negative financial results. Similarly, many homeowners fall victim to predatory lending when a lender convinces them to borrow more money than their home is actually worth.
This is essentially the price which a seller of a property would receive in an open market by negotiation, as distinguished from a “distress” price on a forced or foreclosure sale (or from an auction). Market Value of real property is normally determined by a professional appraiser who makes comparisons to similar property sales in the area, which are often known as “comparables”.
The appraisal report contains documentation of your home or property characteristics as well as neighborhood characteristics and current market conditions, i.e. are home prices stable, increasing or in decline and what are the reasons behind these conditions. In addition there is an analysis of your homes features In comparison with other similar properties or comparables and a stated opinion of value as of an effective date.
An appraisal is an opinion of value. The appraiser limits his or her home inspection to “readily observable condition” that is condition that are more or less obvious to the trained eye, whereas a home inspection by a licensed home inspector involves an in depth inspection of the entire home and it’s condition including mechanical system is documented in report form. A home inspector does not concern himself with the value of the home, only it’s condition.
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