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Avatar for C and J Appraisal Company, L.L.C
C and J Appraisal Company, L.L.C
5.0(
3
)

Serving Biscoe, NC and surrounding areas

In business since 2019

Free estimates

We take great pride in our experience, expertise, quality, and customer service that we provide to meet the consumer's needs.\n\nOur services cover:\n. Consultation Services and Real Estate Strategies\n. Single Family & Multi Family Appraisals(2-4Units)\n. Land & Evaluation Reports\n. Tax Appeals & Appraisal Review\n. Insurance Inspections & Disaster Relief\n. Inspections\n. Improvement Measurement Services \n. Reverse Mortgage & Foreclosure Reports \n\nUse our services to help you make an educated decision. Don't hesitate to reach out to us.

Response time6 hrs
Recommended by50%of homeowners
Horner Apprisals
New to Angi

Serving Biscoe, NC and surrounding areas

In business since 2001

Free estimates

We pride our company on reliability, great communication, integrity, and quality work. We believe in giving our absolute best in all of our projects, no matter how big or small. You will find us to be competitively priced, with close attention to the details of each and every project. We are experts in our trade and will always keep you educated on your particular task or project. We look forward to earning your business, so please ask us for references.

Property Appraiser questions, answered by experts

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.

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.

Some appraisers hold a Member of the Appraisal Institute designation. This accolade is the highest credential property appraisers can earn. An MAI appraisal is typically used for commercial properties.

While your lender will likely recommend an appraiser, you can also hire a professional home appraiser on your own. Choose someone who is experienced in your type of residential property, and ensure they hold all of the necessary credentials that your state or region requires.

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.

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 Biscoe, NC homeowners’ guide to property appraisals

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