The first thing we at the Home Appraising Group do is inspecting your property to assess the status. Our job is to physically evaluate how many bedrooms and bathrooms are in the new home, what amenities are included and any other important features of the new property. To show the actual size or a property, some assessors create a sketch during their evaluation to show square footage, layout and floor plan information. The highest priority is to look for any amenities, defects or issues that could impact the property value.
After the inspection period ends it is up to us to use two or three standard analytical approaches in order to arrive at the value of the property. We generally apply a paired sales evaluation, a replacement cost computation, and an income approach in cases when rental is common.