Real Estate Term of the Day: Appraisal Report & Appraised Value

Real Estate Term of the Day: Appraisal Report & Appraised Value APPRAISAL REPORT – a written explanation of a property’s value including the data and reasoning used to derive the appraised value.  Almost all appraisal reports are provided in a written format (Barron’s Dictionary of Real Estate Terms) An appraisal report will generally include: General … More Real Estate Term of the Day: Appraisal Report & Appraised Value

Real Estate Term of the Day: Appraisal Approach

Real Estate Term of the Day: Appraisal Approach APPRAISAL APPROACH – one of 3 methods used to estimate the value of property (Barron’s Dictionary of Real Estate Terms) Cost Approach – based on the reproduction or replacement cost (new) of improvements, plus the market value of the site Market Comparison Approach – value is estimated … More Real Estate Term of the Day: Appraisal Approach

How to: Minimize Closing Delays

Recently, Realtor Magazine published an article called “Clearing the Closing Hurdles.”  This article named the 5 of the most common problems that are causing closing delays.  They are: Financing falls through at the last minute Appraised value doesn’t support contracted sales price New lending and closing regulations create delays Title can’t be transferred at closing … More How to: Minimize Closing Delays