10136 Elgin Ave, Huntington Woods, MI 48070      248.212.5386 WHAT IS AN APPRAISAL ?  A real estate appraisal is an unbiased estimate of market value at the present time.   If you are refinancing or obtaining a mortgage for a new home, a home appraisal is a critical component to obtaining such financing.   But there are many other reasons why you may need an appraisal. These include: Determining an offering or selling price of a home or condo Contest high property taxes Establish just compensation for condemnation Settle an estate Establish replacement cost for insurance THE APPRAISAL PROCESS  1st The Inspection An appraiser will first come out and measure and inspect the home.  Data is recorded such as square footage, number of bedrooms, bathrooms, the location, etc.  Also, the appraiser will look for any obvious features or defects that would affect the value of the home.  To find out how to prepare for your inspection. 2nd Determine Value The appraiser can use one or several methods when determining value such as the cost approach, income approach or sales comparison.   Following all guidelines and regulations the appraiser arrives at a final opinion of value.  It is important to note that while this amount is probably the best indication of what the property is worth, it may not be the final sales price.  There are always mitigating factors such as seller motivation, urgency or “bidding wars” that may adjust the final sales price of a property.  The mortgage company/lender however will use the appraised amount as a baseline for loans and financing on the property.  The bottom line is that an appraisal from a certified appraiser will get you the most accurate property value so you can make informed real estate decisions. 3rd The Appraisal Report A completed report is generated for each property.    You can view a sample copy of a report here. What is an Appraisal? Who Do We Service? Coverage Area Order an Appraisal SRES, Strategic Real Estate Services Ltd., is a home appraisal company and a property maintenance company based in Huntington Woods, Oakland County, Michigan.  Strategic Real Estate Services offers home appraisal services, property maintenance services, property cleanout services, lock changing services, and more in the five counties in Southeastern Michigan:  Oakland, Macomb, Wayne, Livingston and Washtenaw.  Strategic Real Estate Services' customers are from the following Michigan cities: Oakland County Cities:  Addison Township, Auburn Hills, Berkley, Beverly Hills, Bingham Farms, Birmingham, Bloomfield Hills, Bloomfield, Brandon, Clarkston, Clawson, Commerce Township, Farmington Hills, Farmington, Fenton, Ferndale, Franklin, Groveland, Hazel Park, Highland, Holly, Huntington Woods, Independence Township, Keego Harbor, Lake Angelus, Lake Orion,  Lathrup Village, Leonard Village, Lyon Township, Madison Heights, Milford, Novi, Oak Park, Oakland Township, Orchard Lake, Orion Township, Ortonville Village, Oxford, Pleasant Ridge, Pontiac, Rochester Hills, Rochester, Rose Township, Royal Oak, Royal Oak Township, South Lyon, Southfield, Springfield Township, Sylvan Lake, Troy, Walled Lake, Waterford Township, West Bloomfield Township, White Lake Township, Wixom, Wolverine Lake Village. Wayne County  Cities: Allen Park, Belleville, Dearborn Heights, Dearborn, Detroit, Grosse Pointe, Grosse Pointe Farms, Grosse Pointe Park, Grosse Pointe Shores, Grosse Isle Township, Inkster, Lincoln Park, Livonia, Melvindale, Northville, Riverview, Rockwood, Romulus, Southgate  Macomb County Cities: Armada Township, Armada Village, Bruce Township, Center Line, Chesterfield Township, Clinton Township, Eastpointe, Fraser, Harrison Township, Lenox Township, Macomb Township, Memphis, Mount Clemens, New Baltimore, New Haven, Ray Township, Richmond, Richmond Township, Romeo, Roseville, St. Clair Shores, Shelby Township, Sterling Heights, Utica, Warren, Washington Township Home  |  About SRES  | Appraisal Services  |  Property Maintenance  |  Fees  |  Place an Order  |  FAQs  |  Privacy  |  Contact Us copyright 2010 Strategic Real Estate Services Ltd. 10136 Elgin Ave, Huntington Woods, MI 48070, 248.212.5386 www.SRESLtd.com Sample Appraisal