By inspecting your property we can complete the first task of obtaining information on the homes status. In order to arrive at a true appraisal we must go through the property to make sure the home has the reported number of bedrooms and bathrooms and indicate any special features or amenities included on the property. We will also make sure to check the condition of the home to arrive at a fair value. In order to create a graphical representation of the homes particulars, an assessor may create a sketch of the homes floor plan and size. If any defects or problems present themselves, the assessor makes this note a priority as it can impact property value.
After the inspection is concluded we apply two or three standard computations in order to determine the true value of the property. Most commonly used is a replacement cost calculation, a paired sales evaluation, or an income approach (in the case of rental properties being involved).