Fort Lauderdale real estate is experiencing a boom in the past few years as more and more retirees are looking for new places to spend the later years of their lives. Fort Lauderdale is known as the Spring Break capital or Venice of America. It is very popular among tourists because of its many sites such as the intricate canal system, yachting programs and events and booming urban life. The city is located in Broward County, Florida and boasts having over 10 million visitors coming to visit each year.
The Appraisal Process
Buying Fort Lauderdale real estate can be advantageous especially to those who understand the process thoroughly. Generally, appraisals are subjective and can be manipulated. The process starts by comparing your home to 4 to 6 other properties in the area.
It is ideal for appraisers to look for other properties that have a lot of similar features as your property like the total area, number of rooms and bathrooms. Location is one of the major aspects to consider in the city. You should look for an appraiser who has been in the business for a long time so that you do not miss out on the subtle portions of location. Even if two places are situated side by side, it is possible for them to have different tax bases.
The valuation of the property can be adjusted by the appraiser by rating the house then rating the value of any upgrades done such as modifications in the kitchen, bathroom and other parts of the property. Ratings will be described as poor, average or excellent. Adjustments and ratings are also subjective and will be based on the appraiser's level of expertise and experience. Usually the process' becomes more accurate and objective if you find an appraiser with more experience and knowledge in the given area of Fort Lauderdale.
What to Do During Appraisal
You have to be present during appraisal so that you can point out good things about the property that will adjust the appraisal in a positive manner. Indicate areas that have undergone small modifications to add value since the appraiser may not notice all of it.
Changes done 5 years or less are usually taken into consideration. If you can have the appraiser visit other properties in the area, it can influence the appraisal process as well. Some blocks in Fort Lauderdale real estate may be more valuable than adjacent ones so point out positive features that can be missed even by an experienced professional.
Always take an active role when trying to sell a property. Appraisers are different compared to real estate brokers or agents since they value the functionality and overall condition of the home more than the aesthetic appeal. Check the utilities, sanitation and drainage. Look for weak spots that may affect the overall value such as leaks, moist spots and cracks.
It will be good if you have GFI outlets within 6 feet of any available water source. Your basement and attic will be assessed as well so ensure that there is adequate insulation. Keeping the basement clean and dry and the attic cool will add points. Check for peeling paint chips as well since houses built before 1978 still has lead paint. Decks and other storage buildings in the property will be factored in, adding more value to the property.
http://www.hometerra.com/home.php – Fort Lauderdale Real Estate