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Thomas Real Estate Appraisal Consultants
New to Angi
Appraisal - Real Estate

Serving Davis, IL and surrounding areas

In business since 1990

Free estimates

At Thomas Real Estate Appraisal Consultants I have over 40 years of residential & commercial appraisal experience and have preformed all kinds of non-lender services. Ex Estate, Divorce, Tax, and Personal, I pride myself as being very service minded and detail orientated which sets me apart from the rest. I look forward to earning your business! Note: New Mortgages require your Lender to order the appraisal.

Property Appraiser questions, answered by experts

An FHA appraisal is valid for 180 days from the effective date of the report. In some cases, you can have the appraisal recertified if you make your request before the original expires so that you still may obtain an FHA loan. If approved, your appraisal update is valid for one year.

Ensures accurate valuation reflecting current market conditions, assisting in financial decisions.

Basement bedrooms can count toward your room count and the square footage of your home on an appraisal if they’re fully legal, which means they have proper ventilation and points of egress, as defined by your local building code. Simply partitioning off a space for a bedroom in an otherwise unfinished basement that isn’t a legal living space won’t affect your appraisal value.

Appraisals can come in above or below the list price or offer price for a property, and where it falls depends on many factors. Those include the condition of the property, the location, and the age of the home, but often, the condition of the market is the biggest determining factor. Where demand is high for properties, buyers compete with each other for homes, which tends to drive up offer prices above where appraisals come in. Where demand is low, you’ll often see the opposite happening.

In cases where an appraisal comes in lower than an offer price, sellers might opt to lower their asking price to meet the appraisal, especially if the market is slow, and replacing the offer with a higher one may take a long time. Sellers can also offer to make repairs to boost the appraised value, hire another appraiser to get a second opinion, or just move on to another offer that isn’t contingent on the buyer getting a mortgage or an appraisal inspection.

The Davis, IL homeowners’ guide to property appraisals

From average costs to expert advice, get all the answers you need to get your job done.