What's Your Home Worth?

What is a real estate appraisal A real estate appraisal helps to establish a property's market value–the likely sales price it would bring if offered in an open and competitive real estate market.

About G3 Property Appraisals

What You'll See on a Residential Appraisal Report

Here are a few things they include:

Details about the subject property, along with side-by-side comparisons of other similar properties.

An evaluation of the overall real estate market in the area.

Statements about issues the appraiser feels are harmful to the property's value, such as poor access to the property.

Notations about seriously flawed characteristics, such as a crumbling foundation.

An estimate of the average sales time for the property.

What type of area the home is in (a development, stand alone acreage, etc.).

Residential Appraisal Methods

There are two common appraisal methods used for residential properties:

Sales Comparison Approach

Your G3 Property partner estimates a subject property's market value by comparing it to similar properties that have sold in the area. The properties used are called comparables.

No two properties are exactly alike, so the G3 Property Partner must compare the recent comparable sales to the subject property, making paperwork adjustments to the comps in order to make their features more in-line with the subject property's. The result is a figure that shows what each comp would have sold for if it had the same components as the subject.

So What Does the Appraisal Mean to You?

An appraisal is solely an option of value and not to be taken as a sworn valuation,  as your selected marketing method with be the determining factor in the end sale price.

An Appraisal Isn't a Home Inspection!

Appraisers make notations about obvious problems they see, but they are not home inspectors. They do not test appliances, look at the roof, check the chimney or do any other typical home inspection tasks. Never count on an appraisal to help you determine if the home is in good condition.

If the Appraisal Comes in Low

Don't panic if the appraisal comes in low, because there are often steps you can take to make the deal work.

If the appraisal uncovers other problems, remember that most problems are correctable. Try to keep your cool and work through issues one step at a time.

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