A Closer Look At The Final Inspection You may have heard of an appraisal inspection but what is a final inspection? Keep reading to find out the “second part” of the appraisal process for certain types of appraisals. For many types of appraisals, there is only one inspection or observation as we like to call […]
Understanding The Appraisal Part 1: What is “Adjusted sale price of comparables”?
February 22, 2022 By 13 Comments
Understanding The Adjusted Sale Price of Comparables I’m kicking off a short series to help readers of an appraisal report understand what they are looking at. It seems sometimes that the only two things that most people are concerned about with an appraisal are how fast can you get it to them and what is […]
Excess Land vs Surplus Land, What’s The Difference?
February 1, 2022 By 19 Comments
How is Additional Land Valued In an Appraisal? When I started my appraisal blog part of my mission statement was that I wanted to inform and educate consumers and anyone else who wanted to learn about how and why appraisers do what they do. As is the case almost on a weekly basis I had […]
What is the Principle of Substitution in Appraisal?
January 12, 2022 By 12 Comments
Are You Familiar With The Principle of Substitution? When appraising homes, appraisers rely on various methods and approaches to arrive at an educated and market-supported opinion of value. Today I would like to discuss one of the basic principles that appraisers learn when training to become an appraiser that influences these methods and approaches, and […]
Can I Sell My Home For Its Appraised Value?
November 2, 2021 By 4 Comments
Does Appraised Value Equal Sales Price? This question came to mind this week when I was speaking with a homeowner at an appraisal appointment. He didn’t ask me this specific question but he did make the following statement: “Just because your home appraises for a certain amount doesn’t mean that you can sell it for […]
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