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Upgrades and Renovations: Improvements made to a property can increase its value, but there is a point at which further upgrades result in diminishing returns. This insight highlights the importance of using the bracketing method and including both larger and smaller comparables in the pricing process.
If agents utilize the same methods appraisers use in their appraisals there should not be a vast difference between the two values and the likelihood of a deal falling through will be minimized. I’ve listed below the top search criteria I look at when searching for comps during the appraisalprocess.
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