Real Estate Appraisal Services in Metro Denver

For those who do require an appraisal, Premier Appraisal Services, LLC can provide you with a professional appraisal report that will simplify the process for you. We encourage you to reach out to us for more information.

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In cases where an appraisal is required for asset division, it is crucial to have a professional and well-established report that can hold up in court. Premier Appraisal Services is committed to providing exceptional service, courtesy, and well-supported conclusions. We understand the sensitive nature of divorce situations and how to handle them with care.

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During the challenging period of losing a loved one, determining the market value of a residential property involved in the estate settlement process, also known as probate, often requires an appraisal. At Premier Appraisal Services, we prioritize discretion and confidentiality, in line with the ethics provision of the Uniform Standards of Professional Appraisal Practice (USPAP).

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PMI stands for Private Mortgage Insurance. An attractive way to cut costs for homeowners is getting the PMI removed from their mortgage loan, thus saving them money on their monthly payments. Your monthly payments will go down once your mortgage loan amount is less than 80% of the value of your property.

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An investment in a professional appraisal can yield unexpected results for sellers who are often surprised to learn that the market value of their home is much higher or even lower than they thought. A realistic valuation can help them price their home correctly to attract potential buyers and avoid wasting time, money, and effort. A certified appraiser can provide a skillful listing price in today’s market, even if the seller is working with an experienced agent who provides a comparative market analysis (CMA).

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Determining a property’s square footage is important for a variety of reasons. Firstly, it helps to establish the value of a property by providing an accurate measurement of the living area. Secondly, it is crucial for listing purposes, as it helps to provide potential buyers with an accurate representation of the property’s size and layout. Finally, having an accurate measurement of a property’s square footage can also help to ensure compliance with local zoning regulations and building codes.

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Our first duty at Premier Appraisal Services, LLC is to inspect the property to ascertain its true status. We must see features hands on, such as the number of bedrooms and bathrooms, the location, amenities, etc., to ensure they truly are present and are in the condition a reasonable buyer would expect them to be. To ensure the stated size of the property is accurate and convey the layout of the home, the inspection often includes creating a sketch of the floorplan. Most importantly, the appraiser identifies any obvious features – or defects – that would affect the value of the house.

After the inspection, we use two or three approaches to determining the value of real property: a sales comparison, a replacement cost calculation, and an income approach when rental properties are prevalent.

Here, the appraiser gathers information on local construction costs, labor rates and other elements to ascertain how much it would cost to replace the property being appraised. This value usually sets the upper limit on what a property would sell for. It’s also the least used predictor of value.

Appraisers become very familiar with the neighborhoods in which they appraise. They innately understand the value of certain features to the people of that area. Then, the appraiser looks up recent transactions in close proximity to the subject and finds properties which are ‘comparable’ to the property in question. By assigning a dollar value to certain items such as fireplaces, room layout, appliance upgrades, extra bathrooms or bedrooms, or quality of construction, we add or subtract from each comparable sales price so that they more accurately match the features of subject property.

Say, for example, the comparable has a storm shelter and the subject doesn’t, the appraiser may deduct the value of a storm shelter from the sales price of the comparable.

However, if the subject has an extra half-bathroom and the comparable does not, the appraiser might add a certain amount to the comparable property.

After all differences have been accounted for, the appraiser reconciles the adjusted sales prices of all the comps and then derives an opinion of what the subject could sell for. When it comes to associating a value with features of homes in Westminster and Adams, Premier Appraisal Services, LLC is your local authority. This approach to value is most often awarded the most weight when an appraisal is for a real estate purchase.

A third way of valuing a house is sometimes employed when an area has a reasonable number of renter occupied properties. In this scenario, the amount of revenue the property generates is factored in with other rents in the area for comparable properties to determine the current value.

Combining information from all applicable approaches, the appraiser is then ready to state an estimated market value for the property in question. The estimate of value on the appraisal report is not necessarily the final sales price even though it is likely the best indication of what a property is worth. It’s not uncommon for prices to be driven up or down by extenuating circumstances like the motivation or urgency of a seller or ‘bidding wars’. Regardless, the appraised value is typically used as a guideline for lenders who don’t want to loan a buyer more money than the property is actually worth. It all comes down to this, an appraiser from Premier Appraisal Services, LLC will help you get the most fair and balanced property value, so you can make the most informed real estate decisions.