A Uniform Residential Appraisal Report(URAR) establishes your property’s market value, which is what is normally used for the transaction. What is on an Appraisal?
- Property details, along with side-by-side comparisons of three similar properties which have sold recently in the area of your property
- An assessment of the real estate market in the area.
- Photographs of the subject property and comparable sales.
- An estimate of the average sales time for the property.
- What type of area the home is in (a development, stand alone acreage, etc.).
- An opinion of value.