NoVaStar Appraisals Answer Your Real Estate Appraisal Questions

If you are looking at selling your home then the best place to start is with a real estate appraisal. I sold my home last year and used the wonderful NoVaStar Appraisals, who completed the job with absolute professionalism and speed. During the time that their team were in my property I was able to ask them quite the flurry of questions about real estate appraisals, with an eye to write an article like this to answer the questions about this that you may have burning. Without further ado then, here are some of those questions answered.

Appraisal vs Inspection?

Many think that a home inspection is the same thing as a home appraisal but they are in fact very different things, both of which you will need though. In basic terms a home appraisal is an inspection of sorts but the aim of this is to determine the market value of the home. Home appraisals will debased on a huge number of factors about both the home, its amenities and then current market. A home inspection is usually carried out by the buyers, who will employ someone to review the home and look for any problems that may exist with the likes of the plumbing, insulation or heating in the home and not as much the home gardening and decor. .

What Does and Appraisal Involve?

First of all the appraiser will inspect the home for any repairs which need to be carried out, they will then look at the square footage of the property, the features which it may have and generally any aspect of the home which will have an impact on overall value. Once the appraiser has studied all of these aspects of the home, they will finish their task by looking into the current state of the market in your area, and then use all of this information to deduce a market value for your home.

To Appraisals Vary?

You could consider there to be 2 different types of appraisals but in reality there is only one which is worth your time and your money. The most common form is that which we have already discussed where someone will come out to your home, review every room and then give you a value. The second option is often referred to as a drive-by appraisal, which involves someone giving you a price on the home, despite never having been out to the property.

Is It Obligatory?

A real estate appraisal is not mandatory when selling a home but it is something that is always recommended. Both parties will use appraisals, home owner want to use it to know how much to sell for, and buyers will use them so that they know whether or not they are getting a good deal. Whichever side of the fence you happen to be on, investing in an appraisal is definitely a smart move.

Any more questions you may have on real estate appraisals, feel free to ask.

 

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