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MARKETING & CONSULTANT SERVICES INC.

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MARKETING & CONSULTANT SERVICES INC.

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45 years of experience

For company information, please check our website @ www.marketingconsult.com. John Harris, President of Marketing & Consultant Services, Inc., has over 30 years of counseling experience. HIs offices are located at 2014 W. 13th St. North, Wichita, Kansas 67203. He has owns several successful businesses and holds a Master of Business Administration Degree. He has operated both nationally and internationally in appraisal and brokerage and currently teaches appraisal technique in business and machinery for several national firms. He is a member of Certified Business Counselors, the Institute of Business Appraisers and the American Society of Appraisers.

For company information, please check our website @ www.marketingconsult.com. John Harris, President of Marketing & Consultant Services, Inc., has over 30 years of counseling experience. HIs offices are located at 2014 W. 13th St. North, Wichita, Kansas 67203. He has owns several successful businesses and holds a Master of Business Administration Degree. He has operated both nationally and internationally in appraisal and brokerage and currently teaches appraisal technique in business and machinery for several national firms. He is a member of Certified Business Counselors, the Institute of Business Appraisers and the American Society of Appraisers.

Property Appraiser questions, answered by experts

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.

Ideally, you’d never pay more than the appraised value for a home, but there are some instances where it makes sense to do so. For example, if your current living arrangements are no longer viable and you need a place to move into quickly, paying more than the appraised value might be in your best interest to secure a new home. Additionally, if you’re buying in a hot market, overpaying for the home might be necessary to overcome the competition.

The purpose of the home appraisal determines which party pays for it. You’re generally responsible for the cost if you need to know the current value of your home to refinance your mortgage, though in some instances the lender will pay for it. The buyer pays for the appraisal when they are applying for their mortgage.

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.

Whether a scullery is worth it depends on how much you like to cook and entertain. If you frequently host gatherings—a scullery is likely worth the money. If you’re looking for ROI, it’s not so clear. It may not add significant value to your home, as it doesn’t increase square footage and may repurpose space that a buyer would have preferred to remain as-is (like a laundry room). 

The Fredonia, KS homeowners’ guide to property appraisals

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