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Avatar for Kurt Rehak - Licensed Appraiser
Kurt Rehak - Licensed Appraiser
1.0(
1
)
Appraisal - Real Estate

Serving Earleville, MD and surrounding areas

In business since 1998

Free estimates

Emergency services offered

Our company does residential and commercial appraisals/consulting. Currently we do not offer brokerage services other than valuations. I have been Certified since 1998. For over 23 years, we have been reliable and one of the most informative appraisers on the East Coast. We're very flexible both with pay and scheduling. I can tailor things to your needs because clear communication and your satisfaction are the most important things to me and my business. We specialize in residential and commercial market valuations, divorce, expert witness testimony for lending and non-lending purposes. We appraise all types of real property to include but not limited to all types of residential dwellings, offices, mixed use, industrial, commercial, churches (special use), and right of way appraisals. We do not appraise personal belongings. We do not do surveys.

Kurt S Rehak
Response time1 day
Response rate88%
Property Appraiser questions, answered by experts

While a finished basement adds value to your home, it is assigned a different value than space on the main floors. An appraiser will assess the square footage of a finished basement at about 50% to 60% of the value of the square footage for the rest of your home. Appraisal value for a finished basement depends on your location’s real estate market and the specifics of the basement and how it was finished. 

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.

Foundation cracks won’t always affect your appraised value. All foundations crack due to normal settlement, so hairline cracks that aren’t leaking or uneven from side to side are unlikely to have an impact on your appraisal. Structural cracks, on the other hand, often lead to a reduced appraised value, especially if the underlying problem will cause the issue to worsen over time.

A property valuation, sometimes called a comparative market analysis or CMA, provides a real estate expert’s opinion on how much your property will sell for. It takes many things into consideration, like the condition and location of the home, but ultimately, all that matters for a property valuation is what a buyer might be willing to pay for the property. An appraisal is more concerned with determining the value. A valuation is to estimate what you’ll get for a property, while an appraisal helps a lender establish loan-to-value ratios and loan amounts.

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.

The Earleville, MD homeowners’ guide to property appraisals

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