Seller Step 5 - Appraisal, What Does That Mean For Me?
It's appraisal time, and we are here to help get the best value possible for your property. There are a couple of things that will need to be taken care of before the appraiser comes to the property. Please view this video to know how The Enriquez Group will help take this stress out of this step in the process, and what will need to be done before the appraiser arrives.
Appraisal: An appraisal is a valuation of property, such as real estate, a business, collectible, or an antique, by the estimate of an authorized person. The authorized appraiser must have a designation from a regulatory body governing the jurisdiction of the appraiser. Appraisals are typically used for insurance and taxation purposes or to determine a possible selling price for an item or property.
Comparables: Comparables (comps) are used in valuations where a recently sold asset is used to determine the value of a similar asset. Comparables, often used in real estate to find the fair value of a home, are a list of recent asset sales that reflect the characteristics of the asset an owner is looking to sell. However, the list of sales is generally limited to within the last year.