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An Appraisal is literally an opinion of value during a specific time. That’s the book definition, that’s actually what it is.It’s someone that doing the appraisal that is going to give you an opinion of value based on a number of parameters. This days, most appraisals are done trough Appraisal Management Companies or AMCs, so it’s not usually that local guy that you see sometimes. Often, it’s some appraiser that the mortgage company has picked out that is a long way away. That presents a couple of challenges. They may not know the area. They may not understand that just becouse footage and a certian price of a house on this side of the street , that that same square footage and that same size house equals on the other side of the street or across town, becouse we all know that real estate can be micro local meanin that just on the same side of the street, different address, different zip code, can mean a world of difference when it comes to value in the marketplace. That’s one of the disadwantages of AMCs.
But let’s get down to what an appraisal is and how it is factored. Well, first of all, you have the appraiser is going to go out and they’re going to pull data from couple different sources. One, if there are previous recent appraisal on that property or other properties in the area, they’re going to try to get their hands on those. Second is the information they can get probable from the county or the city and that’s the record of deeds, what’s going on in the various properties in and around that area, what is does this property contain according to the county, what’s legal there? They have to confirm that they have to use an official record. Third is recent sales, normally they pull this from a source like the LMS if they had access to that, or they’re going back to the county to pull recent sales in that area.
Contact Us
Contact Us
Miami Dade County - Property Appraiser Group
14631 SW 144th Terrace,
Miami, FL 33186 United States
Phone: 786-723-6240
Official Site: http://property-appraiser-fl.com/property-appraiser-miami-dade/
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