article thumbnail

8 Home Appraisal Cost Factors in BC: What You Need to Know

D Fritz Appraisals

A home appraisal is a legal document that determines fair market value for a property. The appraisal process includes an inspection of the property and research of comparable properties in the local area by a qualified professional.

Appraisal 103
article thumbnail

Appraisals and Valuation Concerns in the Current Market

Simonson Real Estate

Despite these radical changes, the business of America carries on, somehow, some way, including commercial real estate appraisal work. How has COVID-19 affected the appraisal process and the values of the various markets and submarkets of commercial real estate? For reference, the all-time high was 10.34% in July 2012.

Valuation 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mortgage Term Glossary

Assurance Financial

The first number refers to the length of the introductory period, while the second is how often the rate can adjust. Amortization is the process of paying off a loan over a set period. Before you buy a home or refinance a mortgage, your property will most likely need to go through the appraisal process. Base Rate.

article thumbnail

How To Appraise Rural Properties

Appraisal Today

It is presented as part of the GSEs “Appraisal Modernization” initiative, which aims to streamline the mortgage appraisal process. In contrast to Value Acceptance, most homeowners are familiar with Mass Appraisal, the approach commonly employed by County Assessors for property tax purposes.

article thumbnail

Desktop And Drive-By Appraisals: Helpful Or Harmful?

AmeriMac

It’s a process that is useful for a wide range of reasons that go beyond stopping someone from spending too much on a new home. It’s a crucial part of the process of getting a home equity loan, for example. It’s also useful in terms of appealing property tax assessments, among other reasons.

article thumbnail

Anatomy of a Commercial Real Estate Appraisal: A Top 17 Q&A Guide

The Robert Weiler Company

The process can be daunting, especially if you’ve never engaged in an appraisal for commercial real estate before. After all, it is a detailed activity that can look different depending on the scope and nature of your property. Question 6: What is the overall commercial real estate appraisal process?

article thumbnail

Is Property Appraisal an Art or a Science?

AmeriMac

By having a better understanding of the art and science that goes into appraising a property, buyers and sellers can have a better idea of what to expect from the process and how to choose an appraisal company with their best interests in mind. The Science of Property Appraisals.