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Real estate agents and loan officers play an important role in ensuring appraisers have the necessary data to deliver reliable valuations. I had the opportunity to discuss some common questions people have about the appraisal process with Massachusetts real estate agent Kevin Vitali.
To help you sell quickly and confidently , weve compiled the ultimate house-flipping checklist, covering everything from the renovation phase to the final walk-through. The Ultimate House-Flipping Checklist: Essential Steps for Real Estate Investors Flipping houses is about strategic execution as much as renovations.
Mention features like a newly renovated kitchen, spacious backyard, or energy-efficient windows. List any recent renovations or upgrades, such as a new roof, updated HVAC system, or remodeled bathroom. Whether you’re a real estate agent, seller, or buyer, our expert appraisers are here to assist you in making informed decisions.
Any easements or encroachments – any part of the property should be accounted for to get the most accurate estimate of the land value. The CMA (Comparative Market Analysis) from your Realtor – review this document to see if you know of any homes that were renovated after purchase.
Renovation loan assessments. Any existing easements or zoning issues. Whether you are a property owner, real estate agent, mortgage broker or lawyer, we can provide quick and accurate home appraisal services. Mortgage financing and refinancing. Reviewing / appealing property tax assessment. Estate settlements. Vehicular access.
Here are some tips on how to communicate effectively with a real estate appraiser when obtaining an appraisal: Be clear about your intent: Whether you are the homeowner, buyer, seller, or agent, you should inform the appraiser of the purpose of the appraisal and the type of report you need.
These figures include a ballpark on ROI for rental properties, a clear idea of your expected profit on a flip after renovation and resale, and a detailed list of the expenses you’ll incur to process the property. Many investors stop at calculating buyer closing costs, renovations, and holding costs.
In 2007, he started appraising conservation easements, which are specified areas of land earmarked for environmental conservation. Owners with conservation easements can claim an income tax deduction. Conservation easement appraisals are a definite risk for appraisers. They are not easy to do. AI has to be trained on good data.
Integrity Remain steadfast in your commitments, stay true to your word, and uphold your principles, even if this requires declining an appraisal assignment or future work with a client or their agent. By staying honest and true to your values, others are more likely to trust and collaborate with you or recommend you and your business.
It’s worth noting that while FSBO sales can result in savings, they often sell for less than agent-assisted sales. However, for those willing to put in the time and effort, selling a house without a realtor can lead to significant savings on commission fees, which typically range from 5-6% of the sale price.
If that happens, your real estate agent will have to negotiate with the seller to see if they will bring their sale price down to $350,000. If you are selling your home through a real estate agent, your agent can accompany the appraiser and tour them through the home. Who pays for a Home Appraisal?
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