Typically, when selling or purchasing a home, an appraisal will be used to assess the property’s current market value. If the purchase is financed, the lender will order the required appraisal. In some instances, the lender may require the buyers to include an appraisal contingency in their offer. Our firm has a dedicated team who specialize in residential property appraisals. We consistently work to protect our clients by offering the most accurate appraisal possible.
A commercial appraisal will cover a variety of important factors. These factors may include a comparative analysis of other properties in the area, a description of the property, an estimate of the value of the property based on relevant approaches, and a listing of any potential risks you may encounter.
Land isn’t cheap. If you’re getting a vacant land loan, your lender will likely require a vacant land appraisal. But even if you’re paying cash, hiring an expert to appraise the property is still a good idea. Even if you are curious as to how much your farm, residential lot, or commercial land is worth, an experienced appraiser is a great step in the right direction to knowing the value of your property to make a correct and well-informed decision.