Center Street Appraisals - Appraisal

What is the difference between an appraisal and a home inspection?

The appraiser is not a home inspector nor does he/she do a complete home inspection. An inspection is a third-party evaluation of the accessible structure and mechanical systems of a house, from the roof to the foundation. The standard home inspector's report will include an evaluation of the condition of the home's heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems; the roof, attic, and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement, and visible structure.

How do I get ready for the appraiser?

The first step in most appraisals is the home inspection. During this process, the appraiser will come to your home and measure it, determine the layout of the rooms inside, confirm all aspects of the home's general condition, and take several photos of your house for inclusion in the report. The best thing you can do to help is make sure the appraiser has easy access to the exterior of the house. Trim any bushes and move any items that would make it difficult to measure the structure. On the inside, make sure that the appraiser can easily access items like furnaces and water heaters.

The following Items, if available, will help your appraiser to provide a more accurate appraisal in a shorter period of time:

A copy of the survey of the house and property.
A copy of the deed or title report showing the legal description.
A copy of a recent tax bill.
A list of personal property to be sold with the house if applicable.
A copy of the original plans.

What is ''Market Value?''

Market value or fair market value is the most probable price that a property should bring (will sell for) in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:

buyer and seller are typically motivated
both parties are well informed or well advised
a reasonable time is allowed for exposure to the open market
payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and
the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.

Call us Today!

(641) 486-2322

Fax 641-486-2566
409 Center Street - PO Box 296
Union, IA 50258-0296

For appraisal or floorplan tour questions email michael@409centerstreet.com

Our coverage area for Residential, FHA, and REO Appraisals includes Black Hawk County, Bremer County, Butler County, Franklin County, Grundy County, Hamilton County, Hardin County, Jasper County, Marshall County, Poweshiek County, and Tama County.