When buying a home in the Fort Lauderdale area, it is important to know the fairest sales price. The price of a home is most often determined by the seller and the seller’s real estate agent, rather than what the lender believes is fairest. For this reason, lenders hire independent home appraisers to evaluate the home and determine the best possible price for the buyer.

The biggest job of a home appraiser is determining the current market value of the property. To do this, home appraisers embark on a series of tasks that include room-by-room walkthroughs, property walks and additional property reviews. The main features of concern to a home appraiser are:

• Property size
• Home exterior condition
• Home interior condition
• Home improvements that have taken place, such as renovations to bathrooms and kitchens
• Home features that have been added, such as swimming pools and outdoor kitchens

An appraisal usually takes one to two hours. Once completed, the buyer will receive a copy of the report, which reveals the property conditions and the value as determined by the appraiser.

As a homebuyer, it is in your best interest to know a home’s value compared with other homes that are similar in price, size, condition and location. An appraisal is also required to secure your home loan approval.

At Fairway Fort Lauderdale, we want to show you that purchasing a home can be a fantastic experience. Interested in moving to Fort Lauderdale or buying a new house? We are here to help you! Call us to set up a time when we can review your finances and goals to determine the best home loan program for your needs.

Schedule an appointment today!