What Are Home Appraisals for Houses Sold in Montrose, Colorado?
Are you selling your home in Montrose, Colorado? If so, once you have accepted an offer, know that you will have to have a home appraisal completed. So, you will certainly want to ensure that you know what to expect when it comes time for the appraisal process to start.
If the buyer is purchasing a house with a mortgage, or refinancing their current mortgage, a home appraisal will need to be completed.
Everyone selling their house should be knowledgeable about the home appraisal process! That’s why, here at Glenn Steil Style Real Estate, as Montrose real estate agents, we have gathered some insight to assist you with knowing what to expect when it comes to appraising your own home. Would you like to learn more? If so, be sure to continue reading:
· What Are Home Appraisals? Simply put, a home appraisal is when a professional assesses a home in an unbiased way to declare its value.
· What is the Purpose of Home Appraisals? In general, homes are appraised to determine whether the contracted prices determined are appropriate, given the home’s condition, location, and features. Overall, the purpose is to ensure that the lender isn’t presenting the borrower with more money than the home is worth.
· What Is Looked for by Home Appraisers? There are an array of details that will be given consideration throughout the home appraisal process. However, the following are the most evaluated:
o The lot and size of the home
o The home’s quality, based on its age and construction
o Additional features, such as upgrades, that may add value to the property
o Elements that may subtract from the value of the home
o The home’s exterior features, such as the roof and gutters, along with parking
o The functionality of the home’s layout, along with the number of bedrooms and bathrooms
o The quality of the home’s appliances
· Does the Home Appraisal Take Long? A home appraisal typically takes about a half hour to complete, if your home is somewhat small. But, for larger homes, it could take up to an hour. Once the appraisal is all done, you can expect to receive your results usually within a few days.
· What Do You Do to Prepare for a Home Appraisal? You can’t change certain details that will be appraised, such as your home’s size and location. But, there are some elements that could add value to your evaluation. For example, if you make a list of any improvements that you have made to your home, such as if you have purchased a new water heater, this could benefit your appraisal. Also, ensure that you spruce up both the interior and exterior of your home the best that you can.
You should be confident when having your home appraisal completed. These are just a few pointers to assist you with knowing what to expect when it comes to yours!
Would you like to work with a real estate agent in Montrose, Colorado? If so, please contact us here at Glenn Steil Style Real Estate, as we would be honored with the opportunity to be yours!
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