structure present, and how the structure was built • improvements made by the seller • comparable sales • location—kind of neighborhood, zoning areas, proximity to other establishments • age of property • size • depreciation
GENERAL CONDITION OF THE PROPERTY
Condition, of course, is a crucial factor in valuation. Location is also a factor; but as property cannot change location, it is often the upgrades or improvements to a residential property that can enhance its value. A professional appraiser should be a qualified, disinterested specialist in real estate appraisals with expertise in your region. Their job is to determine an estimated value by examining the property, looking at the initial purchase price, and comparing it with recent sales of equivalent properties. The fee for this service is usually between $300 and $500.
CURRENT MARKET APPRAISAL BY A REAL ESTATE PROFESSIONAL
This home valuation is free from real estate professionals and more helpful than automated online offerings. It provides detailed information on each house sold in your area over the last six months along with the final sale price. It also includes the specifics of all the houses for sale in your area, including the asking price. These homes are your competition. The real estate professional will also be able to answer any questions you might have and help you price your home realistically.
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