What Goes Into an Appraisal?
Acquiring real estate is often one of life’s most important investments. Whether it's your forever home, a vacation retreat, or an investment property, purchasing real estate is a complex financial decision involving many key players. Among them are your agent, lender, and title company — but determining a property’s value? That’s where we come in. This is where we come in: A certified professional appraiser from West End Appraisals provides an unbiased opinion of market value — the price a well-informed buyer might pay, or a seller might receive.
To learn more about appraising, click here to see a short video or contact us today to discuss your specific property.
The InspectionThe process begins with a thorough inspection. We evaluate key features like bedrooms, bathrooms, layout, location, and condition. We may sketch the floor plan and note any design strengths or flaws that affect the property’s market value. Determining ValueWe use several approaches to establish value: 🧱 Replacement CostWe evaluate local construction costs, labor, and materials to estimate how much it would cost to rebuild a similar structure. This sets a ceiling on potential market value. 📉 Paired Sales AnalysisThis common method compares your home to recently sold properties with similar features. We adjust for differences (like extra bathrooms or upgrades) to reflect accurate market value. 🏘️ Income ApproachUsed mainly for rental properties, we consider how much income your property could generate and compare it with similar rental homes to assign value. Final Value Determination
We combine findings from all valuation approaches to determine the most accurate market value. While the sale price may differ due to personal motivation, our appraised value offers a reliable and fair benchmark for decision-making. At West End Appraisals, we’re committed to helping you make confident, informed real estate decisions. Our process is thorough, precise, and grounded in years of experience. |