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Appraisal of real estate

17th June, 2022
Appraisal of real estate

A real estate appraisal is the procedure of determining a market price of a property. To decide on the value of the property, you should do intensive research and know the factors influencing the price of the property. You should preferably approach a professional to conduct a real estate appraisal. So, you are ensured the quoted price of the property is appropriate Dwarka Expressway project.

Two methods of property appraisal

Following are the two methods of property appraisal:

  • Land and Building Method
  • Fair Market Value of the property

Evaluation of Land and Building for determining price

The term 'land and building' simply means the newly- completed properties or under-constructed properties. The real estate appraisers also use this term to mention ready-to-move properties.

During the process of appraisal, the inspectors also examine the documents of the owner such as the title deed, documents to identify the property, mutation certificate, etc. These documents are accessed by the appraiser to ensure the authenticity of the seller.

Some appraisers demand 1% to 3% for providing appraisal services to the sellers. Some appraisers demand Rs, 10,000 to Rs, 20,000 based on the type of property such as an independent home, villa, condos, etc. So, the cost of appraisal should be considered when calculating the cost of the property New Projects On Dwarka Expressway.

Fair Market Value price

This method is simple and easier to understand. It is used to calculate the price of ready-to-move properties. The owner compares the prices of different properties in the locality. But the size of the home, configuration, and layout, of the properties, should be similar. The property should be listed within 2 to 3 months.

You should consider Preferential Location Charges to purchase a home in a better location. The homes located on the lower floors or are park-facing are usually more expensive than the homes located on the upper floors. The price may differ from Rs. 50 to Rs.150 per sq. Feet.

The other premium factors considered for pricing are value-added amenities such as accessibility to swimming pools, parks, and gyms, or lavish specifications such as remodeling, polishing for floors, etc. If you consider these costs, the value of your home is appreciated Resale Apartments On Dwarka Expressway.

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