Appraisals in East Peoria
If you are interested in purchasing a home in East Peoria, IL, you will likely be asked to provide the lender with an accurate and accredited real estate appraisal. While there are a number of companies to choose from in the area, few are as experienced and accurate as Campbell Appraisals.
Purpose of the Real Estate Appraisal
Appraisals are valuable to everyone involved in the transaction of a piece of real estate. They allow the agent and seller to accurately price a home, the buyer to purchase with peace of mind, and the lender to loan money with confidence. In most cases, the lender will not lend money without an appraisal.
About Real Estate Appraisals
If you are unfamiliar with how real estate appraisals work, here are the basics. An appraisal is usually conducted using one of two methods. The first – known as the sales comparison approach – uses comparable properties in the area to determine an accurate valuation. The second – commonly called the cost approach – determines what it would cost to rebuild a structure if it were destroyed. This is the appraisal method often used for newer homes in East Peoria, IL.
The appraisal report includes pertinent information such as an explanation of how the valuation was reached, statements regarding serious issues or defects in the property, notes about comparable homes and recent market transactions, maps, photographs, and basic details of the property.
Campbell Real Estate Appraisals
At Campbell Appraisals, we are committed to providing our clients with accurate and precise appraisals. Whether you are a buyer, seller, agent, or lender, we can provide our licensed services at a very reasonable price. In addition to appraising properties in the East Peoria, IL area, we also offer our services in Peoria County, Tazwell County and Woodford County (including Peoria, IL, Pekin, IL, Morton, IL, and Washington, IL). Contact us today for more information!