Remove Blog Remove Legal Remove Market Value
article thumbnail

Who Needs Appraiser’s When One Has Cash?

Cleveland Appraisal Blog

While it may seem like many buyers don’t care about what the market value of a home is, I think that we must be careful to not make that assumption. If a homeowner hires the appraiser to appraise a home, the appraiser’s legal duty is to the homeowner, since they are the ones who hired the appraiser. . MULTIPLE BIDS.

article thumbnail

Is Your “Crazy” Neighbor Lowering Your Home’s Value?

Cleveland Appraisal Blog

Could being located next to a property that is an eye-sore cause a loss in market value to your home? Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Of course, that’s not the same as market value.

Insiders

Sign Up for our Newsletter

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

article thumbnail

3 Things An Appraisal Should Tell You That You May Not Know

Cleveland Appraisal Blog

With a few quick online searches, in most areas, you can find the parcel number, legal description, and even some potentially comparable sales. Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value? That can have a big impact on market value.

Appraisal 358
article thumbnail

9 tips for homebuyers in non-disclosure states

Housing Wire

Without sales figures, it’s difficult to access comparable sales, and home buyers may find it challenging to gauge the fair market value of a property. Buyers should focus on other factors when estimating a property’s value , such as location, condition of the home, local amenities, and current market trends.

article thumbnail

Is A Cubicasa Scan an Inspection?

Cleveland Appraisal Blog

Interestingly, some appraisers don’t like using the term inspection when describing our walking thru a home to observe things like its condition, layout, and other aspects of the home that impact market value. You can also listen right here at Cleveland Appraisal Blog! . – George Dell’s Analog Blog.

article thumbnail

The Difference Between Pricing a Property and Appraising It

Cleveland Appraisal Blog

The Sales Comparison Approach uses competing homes to develop an opinion of the market value of the property being appraised. The Income Approach uses potential income to develop an opinion of the market value of a property, when applicable. All three are market-based approaches.

Appraisal 305
article thumbnail

What It Takes to Be An Expert Appraisal Witness in An Eminent Domain Case

Cleveland Appraisal Blog

Becoming an expert appraisal witness in an eminent domain case starts with developing a comprehensive understanding of how value is determined in this special proceeding. While most states allow fair market value to be established using traditional appraisal approaches (e.g. – Birmingham Appraisal Blog.

Appraisal 312