Discussions

As a spin off from another thread.. How do house appraisals work with houses that need a lot of fixing. I know that realtors go off of similar homes in the area, etc to get the market value. How does it work when significant amount of work needs to be done, do they take the regular market value and deduct things that need fixed and renovated? Or is there another way.  
Thanks.

I am a realtor. I will do comparisons to homes in the area that have sold and deduct or add value depending on the condition of the comparables to the condition of the home being assessed. Important aspects are the expensive renovations such as windows, exterior of home, roof, and of course age and is it just cosmetic work or repair, how much updating is required all contribute to the fair market value of the home. I did pm you with my contact information for a fair market value of your home. Let me know how I can help.

Casadie said "I am a realtor. I will do comparisons to homes in the area that have sold and deduct or add value depending on the condition of the comparables to the condition of the home being assessed. Important aspects are the expensive renovations such as windows, exterior of home, roof, and of course age and is it just cosmetic work or repair, how much updating is required all contribute to the fair market value of the home. I did pm you with my contact information for a fair market value of your home. Let me know how I can help. "

That really helps, and thanks for your contact info. We may need it in the near future!