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Peterson Appraisals
5.0(
2
)

Serving Genoa, IL and surrounding areas

In business since 1994

Free estimates

Credit card accepted

"I had a fantastic experience working with Byron for my home appraisal. He was professional, thorough, and took the time to explain the process and answer all of my questions. His attention to detail and expertise were evident, and he delivered a comprehensive and accurate report in a timely manner. Byron’s friendly demeanor and clear communication made the entire process smooth and stress-free. Highly recommend his services to anyone in need of a reliable and knowledgeable appraiser!"
Response time1 day
Recommended by50%of homeowners
Avatar for Rowe Appraisal Group
Rowe Appraisal Group
New to Angi

Serving Genoa, IL and surrounding areas

In business since 2006

We are the leading Chicago appraisal firm specializing in property appraisals for Divorce, Bankruptcy, Tax Appeals, Probate & Estate, Pre-Listings, FSBO's and more. We are considered by many to be the top appraisal firm in the Chicago market and surrounding including Park Ridge, Glenview, Morton Grove, Niles, Des Plaines, Mt. Prospect, Arlington Heights, Elk Grove Village, Schaumburg, Norridge, Harwood Heights and more.\n

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Property Appraiser questions, answered by experts

In most cases, you can expect home automation to boost your home value. This technology makes the homeowner’s life easier and more comfortable, and some provide increased safety and protection. Buyers will likely recognize value in security systems and utility monitors, as well as comfort-focused upgrades that save on electric bills while keeping interior rooms at the desired temperature and humidity. On average, you can expect a 50% and 75% return on investment on home automation services, and potentially even more if the automation reduces homeowner’s insurance.

The entire appraisal process takes from seven to 10 days. This timeline accounts for the many steps of the appraisal process, including the post-inspection report completed by the appraiser.

Home appraisal services include the following tasks:

  • Inspect home interior and exterior

  • Evaluate materials, features, fixtures, and renovations

  • Review comparable properties

  • Write an appraisal report

While there’s technically no limit to the dollar amount you can borrow for a home addition, the standard limit is around 80% of the value the addition is expected to add to your home. That means you could feasibly borrow up to $80,000 if an appraiser determines that the addition or bump out will add $100,000 in value to your property. You might also be limited by your debt-to-income ratio or credit score.

You can be present during a home appraisal, but it’s best to stay out of the appraiser’s way. Make yourself available, but don’t engage or interrupt, and don’t discuss value or your target sales price. If possible, have your agent present in the house instead of being present yourself.

As a seller, it might feel tempting to skip the appraisal, especially in a hot market that sees a lot of all-cash offers. While you can technically forgo it and hope for an all-cash offer, you’ll likely have a very tough time selling without an appraisal. 

In addition to protecting lenders from risk, appraisals also protect buyers’ investments. As such, it isn’t typically recommended for buyers to skip appraisals.

The Genoa, IL homeowners’ guide to property appraisals

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