The home buying process is always full of twists and turns. After you've found the perfect property, you need to have it appraised. Rynne, Murphy & Associates is a home and commercial property appraisal service based in Rochester, New York, and they want you to understand the appraisal process and your role in it. With their help, you can have a better chance of making that dream home a reality.
Here, their real estate appraisal professionals share three important things you should know about the process:
- The Property Will Undergo An Appraisal Inspection: Lasting anywhere from a few minutes to a half hour — depending on the size and scope of the property — the appraisal inspection is the crucial starting point in the appraisal process. Your real estate inspector from Rynne, Murphy & Associates will look at the floorplan, the features of the space, and any upgrades that may have been completed. The property will be measured, bearing in mind that unfinished or practically unfinished basements generally do not count as extra square footage or as additional rooms.
- Improvement Costs Are Not Recovered In The Market Price: In the vast majority of cases, the costs for any home improvement work are not recoverable in the market. A state-of-the-art kitchen makeover may be a high selling point, but the appraiser will simply see it as a modernized space in the home; the cost of the features or the work itself are ultimately irrelevant. Other improvement costs, like a new roof or air conditioning system, are also not recovered as they are considered aspects of the regular wear and tear a property goes through.
- Your Real Estate Appraiser Is A Knowledgeable Professional: To become a successful real estate appraiser, one must undergo specific training and certification and possess an ever-evolving knowledge of the real estate industry. Your residential and commercial property appraisal expert at Rynne, Murphy & Associates has an in-depth understanding of everything from property values to local, state, and federal laws and regulations.
Call Rynne, Murphy & Associates at (585) 262-3277 to schedule a real estate appraisal today. You can also visit them online to learn more about their services and mission. By understanding the appraisal process, you will be one step closer to owning the property you've always wanted.