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Avatar for American Remodel And Repair
American Remodel And Repair
4.7(
26
)
Appraisal - General

Serving Slaton, TX and surrounding areas

In business since 2008

Free estimates

Credit card accepted

"Mr. Pena has been far more responsive that I've experienced with other contractors in Lubbock. His person installed the deck boards and there were a few that were less than ideal. I pointed them out and he agreed and fixed them within 24 hours. He is very responsive, always has ideas to improve the project and as a result it feels more like a partnership that a contractor relationship.As a result of his quality we've moved from a small job to over $15K of work."
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Recommended by96%of homeowners
Antiques and Jewelry Appraisals questions, answered by experts

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.

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.

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.

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.

Appraisals are not mandatory but are helpful for pricing accuracy and negotiation purposes.

The Slaton, TX homeowners’ guide to antique and jewelry appraisals

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