More About LA Home Appraiser
Appraisers begin with the property inspection. In order to provide an accurate evaluation, it is the appraiser’s responsibility to first complete a thorough examination of the property. The actual physical features of the house, such as the amount of bedrooms and bathrooms, the location, etc. need to be inspected to make sure they are actually present and in the proper condition.
The examination often includes a sketch of the floor plan and an architectural blueprint as well, highlighting the square footage and illustrating the layout of the property, which in many cases can have a major influence on the value of the property due to individual preferences. Perhaps most importantly, the appraiser is responsible for identifying the most outstanding amenities or defects that can affect the overall value of the house.
After the inspection, the appraiser uses his knowledge of valuation and the surrounding markets to determine the absolute value of the property in question, using industry techniques such as a sales comparison, replacement cost calculation and an income approach when rental properties are useful.
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