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Your Guide to Your Home Appraisal in Lake Havasu

Thursday, February 17, 2022   /   by Steve Ticknor

Your Guide to Your Home Appraisal in Lake Havasu

You’ve found your dream Havasu home and now it’s time to cross all your T's and dot all your I's before it’s all your own. One of the first items on your closing checklist is the home appraisal. So, what exactly is that?

Part of the Havasu home buying process includes a home appraisal. What is it and what do appraisers look at to determine your home's appraised value?

Your Guide to Your Home Appraisal in Lake Havasu

The home appraisal is essentially a value assessment of your Lake Havasu home and property. It is conducted by a certified third party and is used to determine whether the home is priced appropriately.

What Happens During an Appraisal?

During a home appraisal, the appraiser conducts a complete visual inspection of the interior and exterior of the home. He or she factors in a variety of things, including the home’s floor plan functionality, condition, location, school district, fixtures, lot size, and more. An upward adjustment is generally made if the home has a deck, a view, or a large yard. The appraiser will also compare the home to several similar homes that were sold within the last six months in the area.

What Goes Into an Appraisal Report?

The final report must include a street map showing the property and the ones used for comparison, photographs of the interior and exterior, an explanation of how the square footage was calculated, market sales data, public land records, and more.

After it is complete, the lender uses the information found to ensure that the property is worth the amount they are investing. This is a safe-guard for the lender as the home acts as collateral for the mortgage. If the buyer defaults on the mortgage and goes into foreclosure, the lender generally sells the home to recover the money borrowed.

Before you start your next Havasu home search, contact us.

Sunstone Real Estate Group at Coldwell Banker Realty, Lake Havasu City, AZ


Originally posted on my Lake Havasu area real estate blog here: https://www.sunstonerp.com/home-appraisal-guide/.

  lake havasu real estate, home buying tips, appraised value

Coldwell Banker Realty
Steve Ticknor And Bob Ulery
2148 McCulloch Blvd N #105
Lake Havasu City, 86403
928-302-6177

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IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.
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