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Homeowners often have many questions concearning property appraisals. We will help answer some of those questions:
- Who might need a property appraisal done?
- Homeowner
- Government Assessor
- Attorney at Law
- Certified Public Accountant
- Mortgage Broker or Loan Officer
- Real Estate Investor - buyer & seller
- Attorney-in-fact (power of attorney)
- When might I need a property appraisal done?
- As a seller, to help determine an accurate asking price.
- As a buyer, to determine if an asking price is fair.
- Estate settlement
- Mortgage loan
- Insurance value
- Value of a donation
- Property tax disputes
- Gift or inheritance taxes
- Divorce settlement
- Condemination Proceedings
- What types of appraisals are there?
- Letter of Value
- GPAR - General Purpose Appraisal Report
- Fannie Mae/Feddie Mac Appraisal Report
- Construction Draw Inspection
- What are the costs involved?
- Costs will vary based on the type of appraisal to be completed and the location and complexity of the real estate. To see our current base rate schedule and our Northern Illinois coverage area, click here.
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