For Sale By Owner or “FSBO”
A professional appraisal provides confidence to the seller when establishing a sale price for a property. The appraiser will measure the home (so the owner can have a solid representation of the home’s size) and document all pertinent information about the home including the level of updating, quality, and condition.
When estimating a value for setting a price, the appraiser will typically provide at least three comparable sales and also take a close look at the current inventory of the most similar homes on the market. Knowing the price of similar properties currently offered on the local market (and for how long they have been listed) and confirming recent sales gives a property owner a clear understanding of where to set a price. Over pricing a home can drive potential buyers away and take longer to sell while under pricing a home can result in a lower return on your investment.
Trust Terrascope Appraisal to supply a comprehensive professional report that can be relied upon and feel confident while deciding on a sale price.
Private Mortgage Insurance (PMI) is often attached to a loan to protect the lender when lending more than 80% on a property’s appraised value. In order to remove the PMI, the market value must either increase (to the point where the loan is at or below an 80% loan to value ratio) or the loan is paid down to that level. An institution that holds a loan with PMI will require an appraisal when deciding if PMI can be removed. Terrascope Appraisal is approved with most lenders, streamlining the PMI removal process.
In many areas across our region, the local taxation has become more and more aggressive over the years. Historically, the actual market value of a property has typically been much more than the assessed value used to establish property tax. When the (county) assessed value exceeds market value, a professional appraisal is necessary in order to dispute the level of taxation imposed. Terrascope Appraisal has the experience and expertise to create a strong reliable case when disputing real estate taxation.
Real Estate Consultation
Whether planning a remodel, moving to a new area, or simply deciding which updates to prioritize, Terrascope Appraisal offers a wide range of real estate consultation services coupled with professional experience to provide comprehensive reliable guidance.