Do Home Appraisers Go Into Attics

Do home inspectors go in an attic.

Do home appraisers go into attics.

If an appraiser determines that your home is worth 200 000 and you owe 110 000 on your mortgage loan you have 90 000 in equity. Rather the home appraisal is all about managing risk for the lender. But maybe it should be. The size of the garage or if the home has a garage at all will also contribute to the home appraisal value.

Home appraisals are conducted by a professional appraiser to give an estimate of the market value of a house or property. However hud fha does not have a real definition of attic in their documentation. Inspectors typically work by a set of standards. Appraisers must be qualified and certified in your state and in most states adhere to the appraisal foundation s uniform standards of professional appraisal practice.

What home appraisers look for. External factors of the house. Let s start with the basics a home appraiser s job is to determine your home s fair market value. They are most often conducted at the behest of the lender.

That comes out to a home equity percentage of 45 percent. The purpose is to protect the buyer and the lender from paying too much. That unobtrusive ceiling panel is the gateway to a wealth of information. First things first during a typical home sale the appraiser does not work for the seller.

Depending on your property s condition and size the appraisal process can be a quick 15 minute visit or a two to three hour examination. That is the call of a professional. In most cases the square footage of these areas won t count towards your total home s square footage. They are not requiring a full inspection and the appraiser is not qualified to make a full inspection.

The only change is that they require a photo of that head shoulders access in the report. Attics are hot in summer cold in winter dusty dirty and part of a complete home inspection. An appraisal determines for the seller the buyer and the lender how much a home is worth. If you have a functional attic basement or garage your appraiser will factor those assets into your overall home value.

Many home buyers who are looking to upsize their home take into consideration how much storage space a home has so this is also something that an appraiser will look at to determine value. What does an appraiser do. A home appraisal may not be top of mind when you re looking to buy sell or refinance a home.