Denise Gueterman/ Broker Salesperson
Weichert Realtors 142 Main Street Chester, NJ 07930
908-303-2472 Mobile Website: http://www.denisegueterman.net
a) Sq ft
b) Year built
c) Date closed
d) Distance to home buyer wanting purchase
e) Condition of home
f) Status of home sold if foreclosure
Are a few examples how a value of home is considered
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"The last property sold in an area" may or may not be a valid consideration and will only be factored in if the property is od a "like kind." Appraisers normally use several comparison properties when determining the value of a home.
An appraisal is based on 3-5 similiar sales of homes that are similiar to your home. The sales should be within 1 mile and within the last 3-6 months. The comps should be similiar in age, condition, style, bedrooms, baths, sq ft, etc. The appriaser will make adjustments when comparing your house to others. so if you house has 2200 sq ft and the comp has 2500, an adjustment will be made. Hope this helps you understand how an appriasal works.