Nevada City, Grass Valley and Penn Valley real estate and homes for sale in California - Kathy Papola, REALTOR® REALTOR® Logo - NUMBER1EXPERT NUMBER1EXPERT™ Logo
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School Reports in Nevada City, Grass Valley and Penn Valley, California
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Real Estate Tips
About Appraisals >Professional Appraisals

Before your mortgage application is approved, the lender will order a professional appraisal of the home to make sure that the agreed-upon selling price is justifiable based on the current market value of the property. The cost of the appraisal will be based on the complexity of the appraisal report and the time required to complete it.

A professional appraiser will choose the appraisal technique that is applicable to the particular property to arrive at an unbiased opinion of value. One approach is to look at comparable homes in the area that have sold within the last six months. If there are a number of similar properties that have sold recently, the appraiser's job is easy. It is more complicated to arrive at the appraised value if your home is located in a rural area or a diverse neighborhood.

The appraised value will usually be very close to the sale price. If the appraisal comes in lower, the real estate agent may be able to provide the appraisers with additional information on recent sales which will result in increased value.

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Real Estate Trivia
Q 
What is the largest home in Hollywood?

A 
The largest home in Hollywood is currently "The Manor" at 36,500 square feet, built by T.V. producer Aaron Spelling for $37 million.
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Kathy Papola, REALTOR®, real estate agent and broker for Nevada City, Grass Valley and Penn Valley, California home listings, property and land for sale - NUMBER1EXPERT

Kathy Papola
Network Real Estate

167 S. Auburn St.
Grass Valley, CA 95945
530-271-3815
Fax: 530-271-3826
kathypapola@NUMBER1EXPERT.com


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