WHO NEEDS AN APPRAISAL?
Virtually everyone needs an appraisal at some time or another in his or her life. Anyone who buys, owns, or sells real estate will need an appraisal at some time. Lenders, banks and mortgage companies are the biggest users of appraisals. They use appraisals daily to make lending decisions for their portfolios.
WHAT IS AN APPRAISAL?:
def; (noun) The act or process of developing an opinion of value, (adjective) of or pertaining to appraising and related function such as appraisal practice or appraisal services. The market value of your home is the most probable price a motivated seller and informed buyer would pay with the proper exposure to the market.
HOW DO WE DETERMINE THE VALUE OF YOUR REAL ESTATE:
There are many ways to arrive at the Market Value; the most common are the Sales Comparison Approach, Income Approach and the Cost Approach. We can provide the value to the current date, prospectively, or retrospectively. Their are multiple types of reporting formats that include; Self Contained, Summary and the Restricted Report. We can help you determine what is best for your particular situation. Remember, an appraisal is an opinion, and has been likened to an art over science, so choose your appraiser wisely.
WHY DO I NEED AN APPRAISAL?:
Uses for appraisals include Divorce proceedings, Probate (Death), separation of assets, tax abatement, or just to determine the market value of your property. We recommend that prior to selling your home, you obtain an independent appraisal prior to listing your home with a realtor to get an accurate value. This may ward off listing the property too high on the advice of an overzealous realtor.
HOW DO I GET AN APPRAISAL?:
That's the simple part, contact West Bay Appraisal by email or phone us at 401-827-9987 or 401-954-6200 to schedule an appointment right away. Typical turnaround time is a few days after the viewing of your property. That may take 15 minutes to an hour depending upon the size and detail of your house. Research will be done to arrive at an accurate value opinion for your home.