House appraisals are professional property assessments that determine the value of a home. Unlike an inspection, they focus on how a property's features and amenities contribute to the price point. It’s an important service used in many scenarios. Whether you’re buying, selling, or staying in the home, here are several times when you may need an appraisal.

When to Schedule a Home Appraisal

1. Before Selling

It’s not always easy to determine the value of a home. When you sell, you want to ensure you’re not overpricing the property because it could deter buyers. Underpricing could mean missing out on profits. 

A house appraisal assesses factors like square footage, the number of bedrooms, lot size, amenities, and flooring and countertops to create a total value. This is looked at in comparison to similar homes that have sold or are listed in your area. You can then use this number to set an accurate sale price for your house.

2. Appealing Property Taxes

Paying property taxes is part of owning a home. Sometimes, local tax increases could result in your house being “overvalued” by the county. As a result, you’ll end up paying more property taxes than you should. If you want to appeal the county’s estimated value, schedule a house appraisal. You can share the report with local authorities to justify lower property tax levels.

3. Estate Planning

If an aging loved one has included their home as part of their estate, it needs a complete appraisal. When they pass away, the home's equity will be divided between surviving members of the estate. Having an accurate appraisal value will ensure everyone receives a fair portion. Oftentimes, families will schedule this service after the person passes so that it's reflective of the current market value.

Residents of northern Colorado turn to the trusted team at Tri-County Appraisals for their house appraisal needs. They're based in Loveland and serve property owners throughout Larimer and Weld counties. Their lead appraiser is backed by 22 years of experience. These professionals also handle mortgages, property value estimates, estate planning, and other valuable services. Learn more online, or call (970) 888-3733 to schedule a consultation.