House Appraisal – Expert Appraisers
A home appraisal is a technical and formal process by which the monetary value of a property is determined. This procedure is not only crucial for purchase-sale transactions, but also plays a vital role in situations such as financial planning, obtaining loans, determining taxes, and managing insurance.
An accurate appraisal helps homeowners understand the true value of their property in a potentially volatile real estate market. Additionally, by having an up-to-date appraisal, homeowners can make informed decisions about selling, purchasing, or improving their property. This process not only protects homeowners' investment, but also allows them to maximize their return if they sell or rent.
What aspects are taken into account in a home appraisal?
The appraisal process involves a thorough evaluation of several factors that influence the value of the property. Some of the most important aspects include:
- Physical conditions of the property: The general structure, the condition of the roof, the plumbing and electricity, as well as any visible damage that may affect the value are reviewed.
- Square meters of land and construction:The total land area and the built area are critical, as these factors directly impact the value in relation to the local market.
- State of conservation: A well-maintained property is generally worth more. Appraisers consider any renovations and improvements made, as well as the age of the building.
- Available services: The presence of services such as water, electricity, gas, internet and other essential services also influences the valuation.
- Quality of construction materials: The durability and aesthetics of materials used in construction (such as bricks, ceramics or wood) are evaluated to determine their impact on value.
- Location: Geographic location is one of the most determining factors. A property in an area with good schools, services, transportation and a low crime rate will have a higher value.
- habitability: The layout of spaces, light, ventilation and functionality of the design are also considered to evaluate the quality of life offered by the property.
Later, the professional in charge will proceed to carry out a market study of properties similar to the environment, in order to assign the corresponding value to the home.
How to value a house?
There are 3 valuation approachesDepending on the purpose of the appraisal and the needs of the client, the appropriate one is chosen:
| focus type | How does it apply? |
| market focus | Based on comparables in the area where the property is located, it is possible to determine the purchase-sale value of the property. This study is complemented by a physical inspection of the property to determine its state of conservation and obtain its commercial value. |
| Specific cost approach | The value of the property is determined as if it were new and is subsequently depreciated based on the finishes, state of conservation, age, m2, location, etc. |
| Income Justification Approach | It is determined how much the property can be rented for a month and a year. |
What do I need to request a home appraisal at ANEPSA?
When requesting a home appraisal, it is necessary to determine what type of appraisal should be performed depending on the client's objectives, subsequently It is necessary to deliver some documents and information regarding the property, in order to provide better service and verify that everything is correct at the time of the valuation.
Commercial Appraisals
If what you are looking for is to know the sale, purchase or rent price of a property, the commercial appraisal It will help you define the value of said asset or it will also serve as a reference to know its value within the market. Among the documents required for this appraisal are:
| scriptures | property ticket |
| water ticket | Identification or company name |
Property Valuation
This type of appraisal will serve you to have a support in which the taxable base of the property tax can be established and that in this way the payment of the correct amount of the fiscal value of the properties can be made. The documents required are:
| copy deed | Copy of property receipt |
| Copy of water bill | Copy of statement of completion of works |
| Architectural plans | Condominium regime (in the case of condominium apartments and/or houses) |
Credit Appraisal (Infonavit, Fovissste, Issfam)
In order to calculate the appropriate amount in the financing request, a credit appraisal is requested, since it is in this part where the value of the home is indicated and allows the person who grants the credit to verify the value of the loan guarantee. To request a credit appraisal, the following documents are required:
| Title deeds | scriptures |
| Certificate of freedom or inexistence of encumbrance | Updated property ticket without debit |
| Updated water bill without debit | Official identification of the applicant and owner |
| RFC or CURP of the applicant and owner | Appraisal and technical quality report request form (downloadable from the Infonavit website) |
How much does a home appraisal cost?
Home appraisal value varies as it is estimated based on these factors:
- Price per m2 of the area
- m2 of land
- m2 of construction
| Type of property/square meters of construction and/or land | Cost of Commercial Appraisal |
|---|---|
| House of 60 to 150 m2 | $3,400.00 |
| House from 151 to 250 m2 | $3,700.00 |
| House of 251 to 350 m2 | $4,300.00 |
| House of 351 to 450 m2 | $4,800.00 |
| House from 451 to 650 m2 | $6,400.00 |
| House of 651 to 750 m2 | $7,200.00 |
| House of 751 to 850 m2 | $8,400.00 |
THE VALUES IN THIS TABLE ARE AN EXAMPLE, THE COST OF THE APPRAISALS DEPENDS ON MORE SPECIFIC FACTORS OF EACH PROPERTY. THE REAL COST MAY VARY.
How long does a home appraisal take?
The home appraisal takes 3 business days depending on the type of appraisal and its requirements.
Why do home appraisals with a certified appraiser?
A home appraiser is a certified expert who has a title and professional certificate of appraiser, which is issued by different institutions. In addition, these experts have knowledge of architecture and civil engineering, which provides them with the bases and foundations to make an appropriate opinion when carrying out the valuation.
Having an appraisal carried out by a certified appraiser offers multiple benefits:
- Fair and Transparent Value: A professional appraisal ensures that both the seller and the buyer know the fair value of the property, avoiding situations where one party is at a disadvantage. This is particularly important in financial transactions, where certainty of value can influence financing decisions.
- Official Documentation: The appraisal is presented in an official document that is valid before financial and tax institutions. This can be crucial for the approval of mortgage loans, since lenders usually require an appraisal to ensure that the loan is backed by a valuable asset.
- Risk MitigationFor buyers, a certified appraisal offers an added layer of security by providing a detailed analysis of the property that can reveal hidden issues, such as poor infrastructure conditions or the need for significant repairs.
Where can I get a home appraiser?
According to article 3 of the Regulations of the Federal Tax Code Those institutions authorized to carry out appraisals are:
- The Institute of Administration and Appraisals of National Assets
- credit institutions
- Public brokers that have a valid registration before the Ministry of Economy
- Companies dedicated to the purchase, sale or auction of goods
- Certified Appraisers
Recommendations for Choosing an Appraiser
Choosing the right home appraiser is a crucial step in ensuring that your appraisal is accurate and reliable. Here are some tips:
- Credential verification: Make sure the appraiser is certified and has the necessary experience in the specific type of property you want to appraise. Check his or her degree and professional license.
- References and experience: Ask for references from previous clients to get a feel for the quality of their work. It is also helpful to research their experience in the local area, as an appraiser familiar with the area will have a better understanding of the factors affecting the market.
- Transparency in the processA good appraiser should be able to clearly explain how they will conduct the appraisal, what methods they will use, and why they are appropriate for your situation. This also includes a clear breakdown of the costs associated with the service.
- Clear fees: Ask for a cost breakdown for appraisal services. Make sure there are no hidden charges and that you understand how the fees will be determined.
- Effective communication: An appraiser's ability to communicate effectively is crucial. They should be willing to answer your questions and maintain open communication throughout the process, ensuring you are informed at every step.
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