Real Estate Appraisals in Sterling, VA -
Appraisers are licensed by individual states after completing coursework and internship hours that familiarize them with their real estate markets.
The appraiser must estimate the current market value of real and tangible property based upon data from real estate sales transactions and other current market data. This is done pursuant to the requirements of specific State laws. Appraisers obtain land values from county sources and sales information about nearby properties. They also examine the income records and operating costs of income properties. Appraisers estimate building replacement costs using building valuation manuals and professional cost estimators. They also verify legal descriptions of property with county records, measure the property and compare the measurements with the legal descriptions. They draw land diagrams and note conditions and special features of buildings.
Appraisers analyze and evaluate the data and prepare a written report outlining methods by which the fair-market value was estimated. Appraisers issue very detailed reports on a property’s value, and it is the only valuation report a bank will consider when deciding whether or not to lend the money.
The lender might use an appraiser on its staff, or contract with an independent appraiser.
If you are allowed to choose the appraiser, and it isn’t someone the lender is familiar with, the results might be subject to review before they are accepted.
The appraiser should be an objective third party, someone who has no financial or other connection to any person involved in the transaction.
Our goal as appraisers at Appraisal Master is to serve our clients with outstanding customer service and provide the most honest and equitable property valuations possible. Contact us with all of your questions regarding Real Estate Appraisals in Sterling, VA.
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