14 Mar The Appraisal Process
We use a well-defined series of steps to reach an estimate of value for your property. The process begins with the Inspection. We do a comprehensive inspection of your property which includes an evaluation of existing amenities, and all upgrades and remodeling you may have done on your home. We take interior and exterior pictures, and do exterior measurements of the property.
The next step is the application of the market approach or Sales Comparison Approach. The Sales Comparison Approach is most often used in residential appraising, using market data to determine an estimate of value. We do an analysis of the local market and find comparable sales in your neighborhood with the greatest correspondence to your property– the subject property. We then do adjustments which are either superior or inferior, with regard to the various differences between the subject (your property) and comparable properties. Varying factors may include square footage, lot size, age, and condition.
The final step in the process is called The Reconciliation. An estimate of market value (the appraiser’s opinion of value) is determined based on comparable sales, pending sales and listings in the property neighborhood.
If you have any questions or would like to order an appraisal now, please call Sacramento Valley Appraisal – (916) 407-5540