Frequently Asked Appraisal Questions
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An appraisal is a professional opinion. Based upon the recent sales of
homes which are comparable to yours the appraiser forms an opinion as to the value of your
home.
It's a good idea. Pricing your home too high may mean that it will never
sell. Pricing it too low could cost you thousands of dollars.
Realtors offer their own opinion as to the value and are often somewhat
reliable. The appraiser, however, does an in-depth analysis and can provide a more
reliable estimate or value. Even a small variance in price can mean thousands of dollars
to you.
At the home, the inspection takes only about 30 minutes. From here, the
work begins. At Stanley Appraisal we will have the report finished within 48 hours and
typically within 24 hours.
The appraiser takes pictures of the front and rear of the home and then
measures the exterior to determine the home's square footage. The inspection of the
interior is to view the home's condition, layout, features, and to measure any basement
finish.
No, however, the more information that the appraiser has pertaining to
the home the better. A list of dates of improvements, features, and problem areas is
always helpful.
By researching what comparable homes have recently sold for in your area
and considering the value of the differences.
The appraiser's job is to locate the homes which are the most similar to
yours to form an opinion on the value. The factors which are considered in choosing
comparable sales include: location, size, number of bedrooms, age, condition, and overall
similarities.
After obtaining all of the detailed information about the homes, the
appraiser makes either positive or negative adjustments to the sales price of the
comparable to account for the differences between the home being appraised, (the subject),
and this comparable sale. Typically, this analysis indicates a consistent indication of
value.
All of the adjustments are primarily based on what a typical buyer would
be willing to pay for these items (market value).
Location, lot size, age, square footage, condition, basement finish,
amenities, recent updates, amount of garage space, bedrooms, bathrooms, etc. Basically,
anything that a prospective buyer would consider impacts the home's value.
Stanley Appraisal provides a fully documented quality report with timely
service in a professional manner. Our firm continues to grow when most of our competitors
are going out of business. All six of our appraiser are full time and licensed in both
Kansas & Missouri.
Although we are based in Overland Park, we have specialists in every
area of the metropolitan Kansas City and most of the nearby outlying communities.
Stanley Appraisal, Inc.
8645 College Boulevard, Suite 210
Overland Park, KS 66210
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Phone (913) 451-5988
Fax (913) 451-5992
E-mail Rick@StanleyAppraisal.com
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