When you are buying or selling a horse property, a real estate appraisal is essential before you close. It lets you know the accurate market value of the property, so you don't pay too much or under-charge. A lot goes into providing an accurate valuation. Below is a brief introduction to the subject.

What Is a Real Estate Appraisal?

A property appraisal takes into account many factors that affect the value of a property and uses these to arrive at its current market potential. For instance, location, size, shape, and local market conditions all affect a property's value. Appraisals are needed before the transfer of property to make sure both the buyer and seller receive fair value for the exchange. They are also often necessary before insuring a property, so the policyholder and insurance carrier understand how much coverage is needed. Lenders also require an appraisal before approving a home improvement loan or second mortgage with the property as collateral.

What Are the Challenges Unique to Horse Property Appraisals?

The professional must consider traditional factors like the size and condition of the home, any outbuildings, and the lot. A horse property's value reflects the proximity of veterinary services, training areas, and event centers—not to mention amenities like barns, stables, and paddocks. Soil quality and the likelihood of flooding are also important. Finally, the local demand for equestrian real estate can impact the value considerably. 

To schedule an accurate appraisal of your horse property, contact the experienced professionals at Concept Appraisal Services in Littleton, CO. They have been helping clients throughout the Greater Denver area for more than 15 years and have a long track record of accuracy that exceeds customer expectations. Call them at (303) 506-6254 to arrange a consultation, or visit their website to request a free appraisal quote.