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Avatar for Marketplace Housing
Marketplace Housing
4.3(
11
)

Serving Springfield, TN and surrounding areas

In business since 2003

Free estimates

Emergency services offered

"Office staff is always available for help. No job is too small or too big. They are responsive to our needs for service requests from roofing to foundations. All aspects of home repairs have been done professionally and in a timely manner. I would recommend Marketplace Homes for all your property management needs regarding property repairs and maintenance."
Recommended by77%of homeowners
Avatar for Fisher Appraisals
Fisher Appraisals
3.8(
14
)

Serving Springfield, TN and surrounding areas

In business since 2003

Fisher Appraisals specializes in providing professional real estate valuation services in the state of Tennessee. Appraisal reports are prepared with the precision that the industry demands. Furthermore, all of our assignments comply with the Uniform Standards of Professional Appraisal Practice. We appraise all types of residential & small commercial properties, including but not limited to -- single family, acreages, condominiums, 2-4 family investment properties, vacant lots, and high-end lakefront dwellings. With 15 years of appraisal experience, we primarily serve Middle Tennessee; however, any county in Tennessee is not beyond our reach. Fisher Appraisals has built its business on integrity, honesty, and accuracy! I can't do appraisals for loan transactions!

Response time1 day
Recommended by75%of homeowners
Avatar for Music City Home Inspection
Music City Home Inspection
5.0(
3
)

Serving Springfield, TN and surrounding areas

In business since 2015

Free estimates

Credit card accepted

Music City Home Inspection gives you a specified time to hire your own home inspector to check the property out, and protects you from buying a home with serious, previously unknown problems. Your offer should be contingent on the results so that if there are major issues you can walk away from the transaction. If the home inspector only finds minor problems, you also have the option to require the seller to fix them or drop the price.

Recommended by100%of homeowners
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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.

A comprehensive smart home system can be really attractive to buyers and increase the value of your property. Components such as a smart security system, smart lawn and garden systems, and smart appliances can all drive up the value of your property.

The cost to appraise a home depends on the type. Common types include:

  • Single-family homes: $300–$400

  • FHA or VA single-family homes: $400–$500

  • Condominium: $300–$500

  • Multi-family home: $500–$1,000

  • Apartment building: $1,500–$3,000

  • Commercial properties: $1,400–$10,000

  • Raw land: $1,000–$8,000

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.

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 Springfield, TN homeowners’ guide to property appraisals

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