What Role Does the Appraiser Play?
1 Determines property value (How?)
The appraiser will collect information from sales of:
- New Construction
- Sale of established Properties (Compare subject property to sold properties)
2 Sees to it that lender property requirements are met
3 Addresses property condition and documents such with review of property home inspection and personal inspection
4 Determines if the property is code compliant
Criteria for legal bedroom:
- Separate entry,
- Closet with door,
- Window large enough to craw through. (Bottom ledge 40-45 inches off floor)
- Exterior siding not touching ground (VA requires 4-5 inches)
- Ceiling heights (Normal 8’, Less than 6’6” is a problem)
Who pays for appraisal?
- Normally the seller pays and that money is collected and paid before appraisal is performed.
Please use the form below for any questions you may have.