What is ANSI and why is it so important to home appraisals?

What is ANSI and why is it so important to home appraisals?

Why accurate measurements are important   Aside from the site related factors of view, acreage and waterfront, one of if not the biggest factor is the size of the improvements. Finished living area, which includes GLA or gross living area is frequently noted or promoted in listings, appraisals, and in conversations around the watercooler.  The […]

What Are The Main Benefits Of Having Equity In Your Home?

benefits home equity

Learn why having equity in your home is a wonderful thing, and the many ways you can leverage that equity to make the most of your money. Understanding Home Equity Home equity is the portion of your home that you own outright, or have paid off. It is the difference between the current market value […]

What to Do with Your Home Equity

equity mortgage

What is an Equity Mortgage? An equity mortgage is a type of loan that is secured by the equity in your home. It allows you to borrow money using your home as collateral. The amount you can borrow is based on the amount of equity you have in your home. There are two main types […]

Refinance Appraisals: What You Need to Know

refinance appraisals

Refinance Appraisals: What You Need to Know An appraisal is commonly required when refinancing a property because it provides an estimate of the current market value of the property. Lenders use this information to determine the amount of money they are willing to lend and to ensure that the value of the property is sufficient […]

How Appraisals Appear in Real Estate Purchase Contracts

appraisals real estate purchase contracts

Are Appraisal Contingencies Necessary? Appraisal Contingencies, Clauses, and Riders Appraisals appear in real estate purchase contracts as an appraisal contingency, or an appraisal clause. The appraisal contingency or clause is a provision in the contract that outlines the conditions that must be met regarding the appraisal of the property, before the sale can be completed.  […]

Appraisal Waivers: The Good and Bad

appraisal waivers

Appraisal Waivers: The Good and Bad What are Appraisal Waivers? An appraisal waiver is a provision in a mortgage loan agreement that allows the lender to forgo the process of having an independent appraiser assess the value of the property being used as collateral for the loan. Instead, the lender will use their own internal […]

How to Increase the Value of Your Home 

increase home value

Whether you plan to stay and enjoy upgrades in your home or you want to sell soon, there are many ways you can increase the value of your home. Here are some things to increase home value: Maintain the property in good condition Address health and safety concerns Home upgrades and remodeling Additions and expansion […]

Are Real Estate Appraiser Trainees Qualified?

real estate appraisal trainees

While it can initially be worrying to see a real estate appraiser trainee on your home appraisal report, rest assured that trainees are well educated and carefully supervised throughout their training process. Real estate appraiser training is a program designed to prepare individuals to become licensed or certified real estate appraisers. The training includes both […]

What is a Real Estate Opinion of Value and Why Would I Need It?

What is a Real Estate Opinion of Value and Why Would I Need It?

Learn the meaning of opinion of value for real estate and why you need it. A real estate opinion of value is an estimate of the price that a property would likely sell for on the open market. A real estate opinion of value may be requested for a variety of purposes, such as to […]