Austin appraisals: real estate & home appraisals in Greater Austin, Texas by Accurate Appraisals

Accurate Appraisals Inc. - 5930 LBJ Freeway #330 - Dallas, TX. 75240 phone 1 877 866 0015

About Accurate

Accurate Appraisals Inc. is a reliable, prompt,

and experienced appraisal firm based in Dallas, TX. We service in and around the cities of Dallas-Fort Worth, Austin, and San Antonio including the counties of Bastrop, Bexar, Blanco, Burnet, Caldwell, Collin, Comal, Cooke, Dallas, Denton, Ellis, Fayette, Gillespie, Gonzales, Grayson, Guadalupe, Hays, Hill, Hood, Hunt, Johnson, Kaufman, Lee, Llano, Milam, Navarro, Parker, Rockwall, Tarrant, Travis, Williamson, and Wise. To see our references and a list of our clients, continue to page two, or feel free to visit our main site.

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What’s the Difference Between an Appraisal and a Home Inspection?

While similar, an appraisal and a home inspection are two very different things. The function of an appraisal is to estimate value, while the function of a home inspection is to identify safety and structural problems.

A home inspector’s customer is normally the buyer, while an appraiser’s customer is normally the lender. Inspectors sometimes specialize in different parts of the property, such as roofs, termite damage, wells, etc. Appraisers sometimes specialize in the type of property they appraise.

When an appraiser has completed the physical inspection of a property, they still have a great deal to do. Among other things, the appraiser must evaluate the neighborhood, check the real estate market, and analyze comparable listings and sales. Appraisers will typically restrict their service area because of the need to accumulate and analyze such a vast amount of information.

A home inspector checks the integrity of various parts of a building – electrical, plumbing, walls, foundation, roof, windows, doors, etc. When their inspection is finished, all they have left to do is type up the report. They can service a large area because there is not much beyond the house itself needed.

In 1999, Housing and Urban Development (HUD) started requiring their VA and FHA appraisers to produce what appeared to be home inspections alongside their appraisals. This created some degree of confusion. Whatever HUD may believe, appraisers are not home inspectors and vice versa. A buyer should always utilize their own independent home inspector.

What’s the Difference Between a Licensed Appraiser’s and a Real Estate Agent’s Opinion of Value?

If they are both experienced, knowledgeable, and unbiased, there normally not be much difference. But a real estate agent is not a licensed appraiser, and his or her estimate of value is not an official appraisal. The agent may, however, call it a comparative market analysis (CMA) or possibly a broker’s price opinion (BPO).

Real estate agents don’t have to adhere to the Uniform Standards of Appraisal Practice (USPAP) and their valuation can’t be used to support a federally-related business deal such as a mortgage. Agents can, however, use their opinion of value for many other purposes.

A real estate agent normally won’t bill for a CMA or BPO, as this is an effectual method to gain clients. Sellers sometimes will only list with the agent who gives them the highest value estimate. Agents don’t want to be stuck with a hopeless cause, however, and normally won’t waste their time with an unrealistic listing price.

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