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Avatar for Keller Williams International Realty- Teri Barton
Keller Williams International Realty- Teri Barton
5.0(
4
)
Appraisal - Real Estate

Serving Temecula, CA and surrounding areas

In business since 2003

"Teri's professional and friendly manner always made her a pleasure to deal with. Her responsiveness was close to amazing at times. Facing a purchase deadline we decided on the spur of the moment that it would be a good  idea to consult with a contractor about some changes we were considering. Teri immediately made a phone call and an excellent contractor was at the door within the hour to answer our questions.  We were very happy that we chose Teri to help us purchase our property and we recommend her without hesitation to any other prospective buyers or sellers."
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Real Estate Agents questions, answered by experts

Wainscoting isn’t a design element that can be directly tied to an increased house price. Despite that, it is a highly marketable element that can generate significant interest from potential buyers who enjoy the style, and is relatively inexpensive to remove for those who don’t. If you are on the fence about paneling, just know that it certainly wouldn’t result in depreciation of your home’s value—usually the opposite. 

Modular homes can go up or down in value depending on a few factors. In areas where real estate is appreciating, the value of modular homes is likely to increase, and vice versa. Additionally, the value of modular homes depends partially on the area. In cities where every other home is stick-built, modular homes might be considered a functional obsolescence, in which case they could be less desirable and go down in value. In either case, though, modular homes can still be a good investment, especially since they provide housing at a lower upfront cost.

If the sales agreement has a clause that allows the seller to renegotiate based on the appraised value, then they might be able to back out if the appraisal comes in higher than your offer price. If the agreement doesn’t have that language, then the seller has no legal recourse to back out. They could hold a higher offer as a backup and move onto that one if yours falls through for any reason, but once the agreement is signed, the seller is locked into that purchase price unless there’s a clause stating they can renegotiate.

Ensure the property is clean, provide access to all areas, and supply relevant documents, such as recent upgrades or tax records.

A shed that connects to water or electrical services is likely to be assessed for property taxes; however, tax assessments vary around the country. Since every state and local municipality differ regarding property taxes, you should contact your city to determine whether or not you’re required to pay property taxes. Some states consider sheds or detached garages taxable if they have water, sewer, and electricity installed.

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