Appraisals can be surprising
by Bill Roark - posted Thursday, September 13th, 2012 @ 12:00 pm
So you are thinking of selling your home or applying for a refinance mortgage? In either case the home will need to be appraised.
Many property owners are disappointed at the appraisal and wonder why it was not appraised for more. They often cite an appraisal down the street or in the neighborhood of a home that appraised for more and that home is the same size.
They say that can't be right and feel their home is worth more. They blame the appraiser for doing a poor job but never ask the right questions.
There are several reasons why homes of comparable size in the same area vary in appraised price. Let's look at what can influence an appraiser and the value he places on a home.
Bill Roark is a Commercial Associate Broker at Keller Williams Realty and may be contacted at email@example.com.