A Closer Look at Orange County Appraisal

Posted by: Nader Malek  :  Category: Orange County Appraisal

First time home buyers or sellers are not that familiar with real estate transactions. Before you go any further in buying or selling a property, you first have to know more about Orange County appraisal. This is one of the initial steps in a real estate deal. Before you even offer a price to a property or before you can even put a price tag on it, you have to make sure that the selling price is the true value of the house and lot, building, farm lot or apartment. How do you know this? You have to undergo the process of Orange County appraisal.

Orange County appraisal is a process that determines the true value or the fair market value of a certain real estate property. Note that an appraisal is subjective in nature depending on the educated guess, opinion of value or the hypothesis of a qualified and licensed real estate appraiser. Now, although the Orange County appraisal is subjective in nature according to the expertise of an appraiser, it is still viable and based on some standards.

An inspector, a buyer and a real estate appraiser looks for different view points when viewing a house. The inspector looks for things inside and outside the house that needs repair so as to make the property safe to sell. The buyer is mostly inclined in viewing the curb appeal and the staging of a property. Buyers see the beauty of the place. The appraiser, meanwhile, focuses in the true value of the property. True value means the amount that the seller is willing to sell and that the buyers are willing to pay taking into consideration the economics of the area, future developments and past appraisals of similar properties.

For a seller, if he wants to increase the value of his property, he has to do more than purchase new appliance, clean the house, paint the walls or mow the lawn. He has to look at the bigger picture and do something significant such as add a new room, add an attic, add basement, update electrical, plumbing and HVAC systems and install new roof and windows.

Every appraisal cost will depend upon the type of property and the appraisal fee of the licensed appraiser. In Orange County, it can go from $200 up to $500 dollars. The appraisal report is normally valid for 6 months. If the property is not sold during the 6 months, another Orange County appraisal should be performed. This is because times have changed during those 6 months. There may be a new restaurant in town or a hotel was built across the block or a new mall was opened thereby increasing the value of the property.  On the down note, there may have been a natural disaster in the area like a hurricane, flood or earthquake destroying the establishments and as a result degraded the value of the property.

Note that you should only hire licensed appraisers to take care of Orange County appraisal. This is the minimum requirement. You can also require your appraiser to be a member of a professional organization.

Leave a Reply