Tag Archives: real estate appraisal

Mistakes home sellers make

Posted on November 11, 2016 | Leave a comment

Being sucked in by “free help”

There’s been a surge in TV and radio advertisements with online companies claiming to find you the best agent, get you the best price and save you money – and it’s all for free.

Before making a decision to sell: Get to know who your local agents are and see how they operate. It won’t take long to find out who the hard workers are, and which ones get the best results.”

Not knowing the true value of your property

In the eyes of a banker, a vendor should have a well-informed idea of their property’s value.

Contact the appraisers at www.scappraisals.com for your home value questions.

The general manager of retail banking for St George Bank, Ross Miller, says: “In our experience, a vendor can avoid making a big mistake by knowing the true value of their property. To get an accurate estimate, do your own research but also obtain professional appraisals from local real estate agents as well as an accredited valuation.”

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Appraisal Delays are gumming up home loans

Posted on September 20, 2016 | Leave a comment

Your lender does not have to use a management company (AMC) to order an appraisal. Contact the appraisers at www.scappraisals.com with your appraisal questions.

There’s trouble brewing in appraiserville — and it’s beginning to cost some unsuspecting homebuyers money. If you’re planning to buy in the coming months, be aware.

The problem is part work overload, part resentment over fees. In many markets, diminishing numbers of experienced appraisers are available — or willing — to handle requests for their work on tight timetables and at fees that are sometimes lower than they earned a decade or more ago.

The net result: The system is getting gummed up. Scheduled home sale settlements are being delayed because banks and appraisal management companies can’t find appraisers who’ll do valuations on timetables needed for closing dates in realty contracts. A recent survey of agents by the National Association of Realtors found that appraisal problems were connected with 27 percent of delayed home sale closings, up from 16 percent earlier this year.

In some cases, panicked lenders and management companies are offering appraisers fat bonuses and “rush fees” just to complete valuations to meet deadlines. The extra charges can range anywhere from $200 to $1,000 or more, turning $500 appraisals into $1,200 or $1,500 expenses that typically get paid by homebuyers.

Take this example from a mortgage broker in the Seattle area. Matt Culp, owner of Bainbridge Lending Group, says clients who urgently needed to close on a newly built house — and to move out of their rented dwelling — were squeezed into paying $2,000 for an appraisal that normally would cost $625.

10 things to consider before renovating a bathroom

Posted on June 12, 2016 | Leave a comment

bath 2

Whether you have a simple powder room or a master ensuite, functionality should be at the heart of your bathroom. Read on to learn tricks for gaining storage, improving lighting, drainage and more, to ensure that your revamped bathroom stands the test of time.

Will a remodeled bathroom add value to your home? Contact the appraisers at www.scappraisals.com for your value questions.

1. Plumbing
Residential plumbing typically uses 40 millimetre pipes for drains. You’d be surprised how much gunk and hair goes down that drain. The larger the drain, the less likely it is to clog. The cost difference to upgrade to a 50 millimetre drain is practically negligible, and unless your framing doesn’t allow for it, you should consider increasing the drain in your shower to 50 millimetres.

Also, If you live in a region where temperatures drop below freezing during the winter, it’s important that your water supply lines don’t get routed through an exterior wall.

2. Lighting
Consider recessed light fixtures throughout your ceiling to brighten up the room. Include one (or two) in your shower with the proper shower trim. Install a dimmer switch so you can adjust the mood in your bathroom. You’ll want to consider how you’ll be using the mirror in your bathroom and whether you want aesthetic or functional lighting. Whether you’ll be applying make-up or shaving, bright light fixtures properly placed go a long way to help you see what you’re doing close up.

disclaimer: for information and entertainment purposes only

Tag Archives: real estate appraisal

Mistakes home sellers make

Appraisal Delays are gumming up home loans

10 things to consider before renovating a bathroom

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