![]() What can I expect to see in my appraisal report? (Go to list of questions) Moreover, the appraiser is an independent voice, with no vested interest in the value of a home, unlike the agent, whose income is tied to the value of the home. The appraisal is produce by a licensed, certified professional who makes a living out of valuing properties. Who's behind the report is actually the most significant difference between a CMA and an appraisal.Ī CMA is written by a real estate agent who may or may not have a true grasp of the market or valuation concepts. What the CMA depends on are superficial trends.Īppraisals use comparable sales which are verifiable resources.Īlso, the appraisal looks at other factors like condition, location and replacement costs.ĭelivering a defensible and careful analysis, an appraisal will give a clear opinion of value. To be blunt, it's like comparing Shakespeare to reality TV. What is the difference between an appraisal and a comparative market analysis (CMA)? (Go to list of questions) Generally, a home inspection report will evaluate the amenities and the necessities of the house: air conditioning (weather permitting), electrical services, the condition of the heating system, the plumbing then the structural integrity of the home such as the attic, visible insulation, walls, floors, ceilings, windows, then the foundation, basement and other visible structures. The appraiser is not a home inspector and he or she does not do a comprehensive home inspection.Ī third-party home inspector will judge the structure of the house, from the top to the bottom. How is an appraisal different than a home inspection? (Go to list of questions)
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