My years and knowledge of valuing homes included appraisals for purchases, refinance transactions, matrimonial disputes, tidelands/riparian issues, vacant land, foreclosures, tax appeals, FHA/VA loans and many other financially related transactions. This experience in my opinion gave my unmatched knowledge of valuing properties at the Jersey Shore. A real estate appraisal helps in various decision points. The seller can use the appraisal as a basis for pricing. The buyer can use it as a gauge on which to base an offer. Lenders use appraisals to know how much money to credit to their borrowers.
The important factors in a house appraisal are:
• Dwelling type (e.g., one-story, two-story, contemporary, luxury home, condominiums, etc.) • Features (including design) — materials used and the kind of structure present and how they were built • Improvements made • Comparable sales • Location — type of neighborhood, proximity to the beach, zoning areas, proximity to commercial, etc. • Age of property • Size • Depreciation Condition, of course, is a crucial factor in valuation. Location is also a factor; however, as property cannot change it's location. However, upgrades and improvements to a residential property, townhouse or condominium often can enhance its value. A professional appraiser should be a qualified, disinterested specialist in real estate appraisals, with expertise in your region. His or her job is to determine an estimated value by inspecting
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