When we go out to a home to do an inspection, there are 2 main things we need to do: measure the GLA (gross living area) and take photographs of every room. Here are some reasons why we measure: 1. We are required to measure by the lender. It is a requirement that any appraisal for a federal loan include a sketch of the subject property with labelled rooms. 2. Double check that GLA and county records match. This is usually not a problem with homes built within the last 10 years, but if there is a large discrepancy between the appraiser's measurement and county records, it can be a flag for additions (unpermitted or sometimes permitted additions that have not been added to county records). 3. Does the floor plan flow? By measuring we are able to determine things we may otherwise miss. For example, when measuring a home that has an addition, we determined that the master bedroom was only accessible by walking through another bedroom. Doing a sketch and labeling the floor plans, helps us notice these things.
Question: How do appraisers account for a difference in year built? Do appraisers give an adjustment when to comps there is an age difference?
Read more here ... http://sacramentoappraisalblog.com/2015/06/01/how-do-appraisers-account-for-a-difference-in-age-between-comps/?utm_content=bufferbc904&utm_medium=social&utm_source=linkedin.com&utm_campaign=buffer