Eagle Appraisal of Northwest Indiana provides dependable property value opinions that banks and national lending institutions need for mortgages. We also provide appraisals for estate valuation, pre-listing appraisals, and for sale by owner transactions. Eagle Appraisal strives to produce credible and accurate appraisals utilizing thorough data collection, analysis, and observation of the subject and comparable properties. Our service area is Lake, Porter, and LaPorte Counties in Indiana.
An appraisal is a multi-step process which leads to an opinion of value. The appraiser will typically use a number of "approaches," to come to the estimation of your home's market value. One of the methods is the Cost Approach - which is what it would cost to replace the improvements, minus physical deterioration and other factors, then adding the land value. The most common approach is the Sales Comparison Approach which deals with concluding a comparison to comparable houses nearby. The Sales Comparison Approach is normally the most accurate and clearest indicator of cost for a home. A third approach, the Income Approach, is generally used to determine the value of a property based on what an investor would pay based on the income produced by the property.
An appraiser makes an unbiased and professional opinion on the worth of a property used in a real estate sale. Appraisers will compose a report that details their personal observation of the home, provide an analysis of the local market, and determine an opinion of your home's value.