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Avatar for Cape Appraisal Service
Cape Appraisal Service
4.8(
22
)
Appraisal - Real Estate

Serving Delavan, WI and surrounding areas

Approved

In business since 1980

Free estimates

Offers commercial services

"Fritz was thorough in the work that he did to appraise my house. I actually had two appraisers do an appraisal on the house, and Fritz appraisal, while below the other one, made more sense to me and gave me great information to move forward with my house."
Response time7 hrs
Response rate88%
39 neighbors recently requested a quote
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Property Appraiser questions, answered by experts

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

An FHA appraisal is valid for 180 days from the effective date of the report. In some cases, you can have the appraisal recertified if you make your request before the original expires so that you still may obtain an FHA loan. If approved, your appraisal update is valid for one year.

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.

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.

Both conventional loans and FHA loans are types of mortgages, but they have a few key differences. Conventional loans are backed by private lenders without any government backing, and FHA loans are guaranteed by a government agency. FHA loans are designed to be easier for borrowers with low credit scores or income to qualify for.

The Delavan, WI homeowners’ guide to property appraisals

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