Many circumstances require an appraisal to determine the monetary value of a property. This evaluation of a home or commercial building is necessary for buying, selling, and refinancing. It’s also used in tax assessment reviews, estate settlements, and other legal situations.
Before you arrange a real estate appraisal, it’s helpful to understand the role a certified appraiser plays in the process. Metro Appraisal Associates is the leading residential and commercial real estate appraisal service in the Rochester, NY, area. Their professionals use their training and experience to help current and future property owners with the challenging task of determining market value, and they will explain the process.
Certified appraisers provide an objective judgment of the financial worth of a property. They gather an array of statistics and details about the building, including its size, age, design and construction methods, materials, and structural integrity. They also will analyze other factors that affect the value of a building, such as its location, improvements or depreciation, and comparative market analysis (CMA) to other homes in the neighborhood.
An appraiser will analyze this information to estimate the property’s value and include it in a written report. This report can be used as an official document to establish the sale price of a home or support decisions regarding taxes, loans, bankruptcy filings, and estate or divorce settlements.
The systematic approach a certified appraiser uses to figure out property value will help you make major financial decisions, so it’s essential to work with an established industry professional. In the Rochester area, call Metro Appraisal Associates at (585) 225-3042 to schedule an appointment and visit them online to learn more about their services.