A San Diego real estate appraisal is an evaluation of the value of a specific property. An appraisal can be used in many circumstances and for many different people. The most common reasons real estate appraisals are requested in San Diego County are for purchasing, selling or refinancing a property. Some of the other reasons for an appraisal are divorce, bankruptcy, bail bonds, estate & date of death, financial planning and trust, PMI removal, pre-foreclosure, short sales, tax assessment, pre-listing, pre-purchasing, FSBO’s, and probate appraisals.
As a homeowner or buyer you may want to understand the reason for having an appraisal completed for your mortgage transaction. If you are buying, selling, or refinancing a home the appraisal is an important part of your transaction and you will want to understand the process. Read More
How Does a San Diego Appraiser Select Comparable Sales for an Appraisal?
A common question appraisers are asked is how they select comparable sales for an appraisal. Comparables are properties used in the appraisal to compare to the subject and help determine the appraised value. Homeowners and realtors can often be confused as to how the appraiser selects these properties and why some properties are not selected to use in the appraisal. There are three major factors that help determine which comparables the appraiser selects, these factors are how current the sale or listing are, the distance from the subject, and the similarities in amenities.