When you need a relocationappraisal done right, trust the experts at AmeriMac for a fast and accurate relocation appraisal report. Relocation reports come in handy when a corporation or government agency relocates an existing or future employee. To make this process easier on the employee (in this situation, known as a transferee), the employer offers a buy-out. The transferee sells their property with a real estate agent while waiting for the employer buy-out.
In a relocation appraisal, the appraiser makes an estimate to the anticipated sales price of the home given the current market conditions. The appraiser will inspect the property and analyze local market factors to determine a value. The employer might obtain one or more appraisals to assess the property’s value depending on the company policy.
For a single-family home, the common approach for an appraiser is the “sales comparison analysis” technique. In this method, the appraiser will compare the property to similar homes in the area that have been sold recently. The appraiser will also be looking at information about the property available via public records.
To obtain further information about the property in question, the appraiser will conduct an in-person inspection of the property. This includes the interior and exterior, as well as plumbing, heating and cooling systems, and electrical elements. The appraiser will be equipped with knowledge of the local market, and they will consider all of the relevant information and data to produce a valuation opinion.
The relocation appraisal process involves more of an in-depth analysis of past, current, and anticipated market conditions than a mortgage appraisal. In fact, a mortgage appraisal focuses much more on past and present markets than conditions in the future.
A relocation appraisal valuation is built to provide the anticipated value of a property within 90-120 days. The appraiser seeks an answer to the question, “ how much will this property be sold for in three to four months?” The appraiser finds this answer by considering thoughts such as:
We understand the difficulties and complexities that come with a work-related relocation, but it doesn’t have to be that way. Our team of appraisal professionals are skilled at handling the intricacies of a relocation appraisal. Contact us today and see how we can help ease this transition.