When something happens in your life that causes you to take a look at your home and wonder what it is worth you will likely need a skilled REALTOR or appraiser to help. A home appraisal can identify your Twin Cities home’s fair market value. While a home assessment identifies the value of your home for tax purposes, a home appraisal determines the market value of your home if you were to list it for sale.
- putting your current home up for sale
- determining the home’s value in a divorce settlement
- determining the home’s value in an estate settlement for taxes and legal proceedings
- determining the value of a home you have inherited
- determining the home’s value in establishing a trust for a child or grandchild
- predicting the future fair market value of a home you’re renovating
Situations where you will likely need a home appraisal:
- refinancing the mortgage on your current home
- providing evidence of equity in your home to remove Private Mortgage Insurance from your monthly mortgage payment
- applying for an FHA loan for your new home
If you find yourself in one of the above situations, Call Sarah First can help. I have more than 10 years of experience selling home homes in Minneapolis and surrounding communities and I have my Pricing Strategy Advisor certification. I can also connect you to appraisers that can complete appraisals promptly and professionally and provide reports that are comprehensive and easy to understand.
To learn more or schedule your market valuation or home appraisal, contact me today.
Most appraisals are $350. Fees can vary and go up depending on the size of the property and complexity of the appraisal. Multi-family properties start at $550.
-What's the difference between the appraised value and tax assessed value?
-What's the difference between value given by an appraiser or Pricing Strategy Advisor compared to only house value websites?
Those websites are usually just averaging the prices of homes in your area and using that average to estimate a value for your home. There is no skill or actual analysis applies causing some to be very close while other estimates are sometime tens of thousands of dollars off.
-Will my home sell for more of less than the appraised value?
The value of your home or property is based on what similar homes or properties in the area have sold for (not what they are listing it for). Often, homes sell for recent appraised value but the value may vary between appraisers based on the comparable homes they use and the directy of a quickly changing real estate market.
-What is the turn around time for an appraisal?
-What areas do you cover?
