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TRUSTED BY LOWELL, NC HOMEOWNERS

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  • Verified reviews icon24
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Find Property appraisers in Lowell

Avatar for Charlotte Home Appraisal
Charlotte Home Appraisal
5.0(
20
)
Appraisal - Real Estate

Serving Lowell, NC and surrounding areas

In business since 2021

Free estimates

Emergency services offered

"Matt was professional and customer focused. He called us and scheduled the survey the same day we made a request on Angi. We hired Matt to provide an honest appraisal of value of our house to help us determine a listing price for the property. Matt provided a comprehensive appraisal within a few days. The information was quite valuable for our purposes. We highly recommend Matt for your appraisal needs."
Professional Seal
Response time12 hrs
Recommended by100%of homeowners
Preferred Appraisals, LLC
4.8(
4
)
Appraisal - Real Estate

Serving Lowell, NC and surrounding areas

In business since 2000

We're a locally owned and operated company that values honesty and integrity and treats your home as if it were our own. We offer over 20 years of industry experience and a variety of home appraisal services that are customizable to each individual home. We specialize in real estate appraisals. We look forward to building lasting relationships and guarantee your satisfaction!\n\n

Response time1 day
Recommended by100%of homeowners
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Property Appraiser questions, answered by experts

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 differences between market value and appraised value depend on the local market, so they can match, or either one can be higher than the other. In a “seller’s market,” where there is an abundance of buyers, market value will likely sit higher than the appraised value because there’s more demand for the low inventory of homes. In a “buyer’s market,” where there are more homes than there are buyers, the market value is more likely to sit below the appraised value to entice buyers.

Depending on the size of the home, the appraisal itself can take several hours. After the appraiser’s visit is complete, it can take between a few days and a few weeks to get the report back. This timeline is largely dependent on the appraiser’s workload, research requirements, efficiency, and other factors.

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.

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 Lowell, NC homeowners’ guide to property appraisals

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