Buying or selling a home for most Americans is the largest financial transaction that they will make throughout their entire lives. So it makes sense that you would want to know what you are purchasing/selling is really worth what you think it is.
If you want to buy or sell a home knowing the exact amount that it is currently worth is an important part of the sale. But who can you trust to tell you what that amount really is?
Most real estate agents are pretty good at being able to estimate the value of a home/property, however, they are not the experts. That is why if you want to purchase a home your mortgage lender is going to need a North Port property appraiser to value a property before they will finalize any home loan.
But why? What is it that makes an appraiser an expert?
North Port Florida Property Appraiser
Here in North Port Florida, homes are being bought and sold all the time. It is a beautiful place to live and a wonderful place to raise a family. That is why the area is so popular.
North Port is a place that we appraise homes pretty regularly. That doesn't mean that the market is always going to be the same though.
One big thing that we do as a property appraisal company is making sure that we are keeping up with the real estate market and how it is fluctuating every single day. Following current trends is a large part of appraising properties accurately, and efficiently.
Largely, we look at comps to help tell us what direction the market is heading, where it is right now, and how that is affecting different areas all around SouthWest Florida.
If you don’t already know, comps is short for comparables. Comparables are other homes in the same area that are similar to the property that have recently sold. Looking at what other similar homes in the area are selling for is largely how we decide what a property is worth.
Essentially, we let the current market trends tell us exactly what a home/property is worth. This is by far the most common way that appraisers determine the value and it is called the sales comparison method.
There are other ways to appraise properties such as the cost approach or income approach however, those aren’t as commonly used.
The income approach is mostly used for commercial properties because the appraisal is centered around how much someone could make off of the property. This could be for just a standard brick and mortar business or even places that rent condos or apartments.
The cost approach is also not as popular because it is for mostly new construction or newer buildings. They look at the land and the building as two different pieces and then determine what amount of depreciation needs to be considered.
Basically, what would it cost to build an entirely new home that is exactly the same or at least similar enough? That is why it is difficult to use this method when appraising older homes because the styles and materials used are very different from what is commonly used today.
Need an Appraisal Quote? Here’s One for Free:
We know that you will love our appraisal service. That is why we are offering a completely free no-obligation quote on how much the appraisal will cost.
All you need to do is click the link, and then fill out the form as accurately as you can. The more accurate you are the more accurate your quote will be.
Once you have filled it out the system will automatically calculate what your quote is.
North Port Florida Appraisal Services
To better serve our clients our North Port property appraiser offers two different types of appraisal services. In-home and virtual.
In-Home Property Appraisals
An in-home appraisal is just our standard appraisal service. We will set up an appointment with you and will come to the home to take a look around the property. Looking around outside, in every room, and any additional spaces used for storage will all be a part of the walkthrough.
Our property appraiser will need to look around while also taking pictures. Any pictures taken are simply to document and look back on when finishing up the appraisal report.
Virtual (Online) Property Appraisals
Virtual appraisals are conducted completely online. They are done exactly like an in-home appraisal with only one main difference. Instead of being at the property, we will use a video call to conduct the walk-through.
So we can appraise your North Port property without ever needing to step foot on your property. It is fairly easy and very convenient for anyone who has a hectic schedule.Want to learn more about the appraisal process? Want to look at scheduling an appointment? Feel free to give us a call at (941) 743-3700.