New Lenox Real Estate Appraisers
Whether you’re purchasing a home, developing land as an investment, or conducting any other type of real estate transaction, a professional property appraisal will streamline the process and establish the fair market value of any property. Most official real estate forms and documents include a line item of the estimated property value, yet only a licensed and certified appraiser is qualified to provide a completely objective evaluation, along with a detailed and comprehensive written report.
What can a New Lenox appraiser do for you? Our accredited professionals are available to assist you with:
Following the onsite assessment and inspection at your location, Excel Real Estate Appraisal Services Inc. appraisers determine the market value of real estate and comply with the regulations set forth by the Uniform Standards of Professional Appraisal Practices.
Our services include:
The Appraisal Process
The appraisal process includes the research, compilation and analysis of all pertinent data as it relates to your specific requirements. Excel Real Estate Appraisal Services Inc. provides several types of reports in standardized or narrative book form.
A list of all assets and defects are objectively analyzed and compiled in a detailed written report.
Includes the assessment of age, physical depreciation, functional and external obsolescence, normal wear and tear and differed maintenance.
Neighborhood and surrounding areas
An assessment is made on a property’s proximity to services, facilities and amenities as they may (or may not) relate and affect its market value.
Public records are analyzed to confirm sales and make comparisons in the particular New Lenox region. A range of public records and sources are used including zoning records, tax data, professional associations and other applicable publications.
Calculating the Market Value
In its most basic form, this approach is built on the premise that the market value of a property is partly derived and comparable to surrounding properties.
Since the market obviously relates to cost, this approach takes into account and analyzes market trends as defined by two specific elements: Land value and land improvements, minus depreciation.
Generally reserved for valuations for commercial and investment properties, determining the market value using the income capitalization approach relies on the perspective that the potential earning power of real estate is significant when calculating its actual value. Income capitalization techniques are used to analyze sales data that measures potential profit and loss.
Excel Real Estate Appraisal Services Inc. provides complete appraisal services for:
- Residential properties
- Multi-Family properties
- New construction appraisals
- Condominium appraisals
- Acreage appraisals
- Land appraisals
Please call us for more information or for a consultation on your residential property.