House appraisal: What factors can affect it?

home appraisal

What is a home appraisal?

A real estate appraisal Its purpose is to know the real value of a property taking into account various factors, both internal and external, usually these types of appraisals are made for the purposes of purchase and sale, rental, permits, mortgage loans, insurance policies, guarantees, property concessions, tax guarantees, testamentary deed trials, mergers, payment of compensation for expropriation, etc. 

There are different types of appraisals, among them are the commercial for purchase and sale, prosecutors to know the amount to be paid in taxes and the value estimation, which is used when the property is still under construction. 

How is a home appraised?

There are several parameters to make the appraisal of a house, among them are: 

  • Construction material and finishes
  • Square meters of construction and land
  • Area and exact location of the property, as well as major roads
  • Condition of conservation and age of the property 
  • current market price 
  • Type of land use
  • Security of the area where the property is located
  • Service installations such as gas, electricity and hydraulics.
  • Shops and services near the property (for reasons of proximity, comfort, luxury, availability, etc.)
  • Accessibility and public transport in the area.
  • Quality of finishes. 

All these factors are taken into account in a survey, that is, a report issued and carried out by a expert appraiser or in some cases an architect, with an issued certificate and an expert in the matter, with the aim of a single objective, to reach the conclusion of what the real value of the property in question is. 

pexels photomix company 101808

Who does the valuation of a house?

A expert appraiser, is in charge of property valuation, who is an expert who has a professional license issued by the SEP, that supports and certifies it as real estate appraiser and according to the purpose of the appraisal, it must be registered with other institutions.

Based on the article 3 of the Regulations of the Federal Tax Code The institutions authorized to carry out tax appraisals are: 

The Institute of Administration and Appraisals of National Assets. 

Credit institutions. 

Public brokers who have a valid registration with the Ministry of Economy. 

Valuation companies, and/or Professional Valuation Experts

It is necessary to have veracity and confidentiality of all the information collected in the survey, therefore it is essential and necessary to contact a company that provides total trust, quality and discretion, investigate a priori the one that best suits us, convinces and has clients. important to support them. 

A real estate valuation includes: 

  1. Houses. 
  2. Departments. 
  3. Industrial ships. 
  4. commercial premises
  5. Properties under construction. 
  6. Buildings. 
  7. Offices. 
  8. Cellars. 
  9. Parking lots. 
  10. Urban land. 
  11. Forest Land. 
  12. Agricultural land. 

What factors can affect the home appraisal?

There are both internal and external factors that can affect this appraisal.

Extensions in the property, because when making expansions and making a modification to the original plans or expanding any section of the house in the period of validity of the appraisal, it makes it lose its value, since by doing so the home loses the characteristics that were observed and considered to establish the value of the property. 

Damages due to natural causes, that is to say that the property goes through a natural phenomenon that affects the house, such as: floods, earthquakes or hurricanes, this can make the document that had been made previously lose its validity since it does not consider the damages after the date in which the appraisal was made. 

The surroundingsSince in order to carry out the valuation an expert opinion is also carried out on the area where the property in question is located, it is important that the area does not undergo changes during the period in which the appraisal lasts, since when the streets are affected with the that adjoins the house, the value of the property can be modified, however these changes would have to be radical or permanent, as in the case that bridges are built, avenues are modified or that basic services problems begin to exist. 

Failures in basic public services, since there is a structural failure or of any other type, such as the lack of water, electricity or sewage, the area is affected and loses value since it does not have basic public services.

A real estate appraisal has an average duration of 6 months, with the consideration that no modification is made or the home suffers any mishap. 

pexels max vakhtbovych 7031616

How much do you charge for a home appraisal?

To obtain the information on costs for the appraisal, the appraisal company takes these aspects into consideration: 

  • Price per m2 of the area
  • m2 of land
  • m2 of construction

Of course, the cost per appraisal depends on each appraisal company. At ANEPSA we offer plans tailored to your company, appraisals of all kinds, not only real estate, carried out by experts with an issued certificate, and we also make value opinions. contact Contact one of our advisors and learn about the plans we have for you or answer your questions.

Scroll to Top