How to Get an Effective Real Estate Appraisal Real estate appraisal can be defined as a valuation process that is conducted to know the true value of the property before it is sold or mortgaged. The real estate appraisal is very important because it will help determine the true value of a house. The real estate appraisal is also used by banks to give them an estimate of the money to lend to their borrowers. An appraiser is responsible for the valuation process of a house or building. The appraiser is very experienced not only in terms of education but also possesses knowledge in property valuation. The appraiser is also required by law to be fair and non-partisan when valuing a property. Companies that commonly work with appraisers include real estate agents and banks. Some of the appraisers usually have their own appraisal firms. The property that is being valued, must be in an area well known by the appraiser. The familiarity allows the appraiser to know all the pros and cons that might affect the property value. Another responsibility of an appraiser is to counter check the property's records with the public records to ascertain it is legally owned. The real estate appraiser is also required to take pictures of both the interior and the exterior of the house. Comparing the houses with others in the area is also done by the real estate appraiser to determine the property value. They will then write a detailed report about the property and also maintain any records about the property. The real estate appraiser will also include surrounding features that affect the value of the property like closeness to a mall, near a police station, near a highway and so on. The appraiser with then give an estimate of the property by using the information they have gathered. There are many similarities between different residential appraisals. One thing similar in the appraisals is that they are all after the market value of a property. The real estate appraisal process can be broken down into major factors that the appraiser will be keen on to determine the value of the property. Knowing these factors as a home owner might be helpful in increasing your property value. The value determining factors include the size of the house, the type of the house, the depreciation of the house, age of the house, the house features, the renovations and the repairs made to the house. For a free appraisal on the house, there are two options. The first way to get a free residential appraisal includes using a real estate agent to do an estimation of the house. The second option is by the use of the many available free online appraisal websites. The online appraisal is very convenient because it is fast and the only requirements needed are the house address and some extra features and you get the market estimated value of the house. Overwhelmed by the Complexity of Services? This May Help Overwhelmed by the Complexity of Services? This May Help

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