Author: Scott B

Does An Appraiser Look In Every Room?

Yes, appraisers look in every room during a property evaluation. Professional appraisers conduct comprehensive room-by-room inspections, photographing all interior spaces, exterior areas, and structural components to ensure accurate property valuations. This complete documentation process typically takes 30-60 minutes and covers living spaces, bedrooms, kitchens, bathrooms, garage areas, and outdoor sections. Appraisers examine visible conditions in […]

How Long Is An Appraisal Good For?

Most property appraisals remain valid for 90 to 180 days, depending on your loan type and market conditions. Working with experienced real estate appraisers ensures you understand these critical timeframes for your transaction. Traditional mortgage appraisals typically last 120 days for existing homes, while government-backed loans like FHA and VA often allow up to 180 […]

When And Why You Should Have Your Home Reappraised

A home reappraisal determines your property’s current market value after your initial purchase appraisal. New York homeowners should get their homes reappraised every one to two years if they have a mortgage. You also need a reappraisal after completing renovations like adding a deck, installing a new roof, or upgrading appliances. Other key times include […]

Appraisal Higher Than Purchase Price: What It Means

An appraisal higher than purchase price means you’re buying a New York home for less than its actual market value. This creates instant equity, which is the difference between what you paid and what the property is worth. When your appraisal exceeds your purchase price, you gain immediate financial advantages including better loan terms, lower […]

9 Most Common Reasons to Order a Property Appraisal

A property appraisal is an independent professional assessment that determines your home’s current fair market value. New York property owners need appraisals for nine common situations: buying a home, selling a home, accessing home equity through loans or refinancing, dividing assets during divorce, filing for bankruptcy, documenting construction defect damage, using property as bail bond […]

9 Things To Know Before Your Home Appraisal

A home appraisal is a professional, unbiased evaluation of your property’s market value in New York. Licensed appraisers conduct this assessment to determine what your home is worth. Most mortgage lenders require home appraisals before approving loans for property purchases or refinancing. The appraisal cost varies based on property size, complexity, type, and location. The […]

Is A Property Appraisal Required? What You Need to Know

Property appraisals are required in most financed real estate transactions, but are optional for cash purchases. Lenders mandate professional appraisals to verify that property values align with loan amounts, protecting both the institution and borrower from overvaluation risks. The requirement depends on your transaction type, financing method, and specific lender policies. Key Takeaways: Understanding when […]

5 Reasons To Get A Home Appraisal, Other Than When Buying

Home appraisals aren’t just for buying and selling property in New York. A home appraisal is an independent professional assessment that determines your property’s current market value. Licensed appraisers evaluate homes based on comparable neighborhood sales, recent market activity, and property conditions. You need a home appraisal for refinancing mortgages, obtaining home equity loans, securing […]

What Homeowners Need To Know About Home Appraisals

A home appraisal is a professional assessment that determines your property’s current market value for lending purposes. This evaluation becomes necessary when selling your home or refinancing your existing mortgage to secure better rates. Licensed assessors examine multiple property features to establish an accurate valuation that protects both buyers and lenders. Understanding this process helps […]