A residential property appraisal is an accurate, independent estimate of market value. An appraisal also provides other useful information about the property such as an accurate description and photographic record of improvements, verification of property tax and utilities costs, an estimate of net operating income for investment property, and documentation of adverse property conditions such as functional obsolescence and flood plains.
Pre-Purchase Appraisal
Establishing a property’s market value is one of the primary considerations of any real estate sale or acquisition. It is important information for the prospective Buyer in making a fair and reasonable offer on a property and significantly strengthens the Buyer’s negotiating position.
A residential property appraisal is an accurate, independent estimate of market value. An appraisal also provides other useful information about the property such as an accurate description and photographic record of improvements, verification of property tax and utilities costs, an estimate of net operating income for investment property, and documentation of adverse property conditions such as functional obsolescence and flood plains.
