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May 11, 2007, Newsletter Issue #130: The Appraisal Report
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Tip of the Week
The appraisal report will include the address of your property; a description of the neighborhood, including market factors like property value trends; and a description of the lot. It will also include a listing of the features and characteristics of the house, such as a description of the exterior and the foundation; the number of rooms; the materials in each room, such as floor covering and trim; utility systems like heat and electricity; equipment in the kitchen and a description of the attic and garage, if applicable. The appraisal will also include descriptions of up to three comparable properties - homes in the same town with similar features that have sold recently. The appraisal will include an estimate of the value of the home, and a description of the method used to arrive at that estimate.
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