When it comes to buying and selling real estate, everything’s negotiable! It’s challenging to locate affordable properties in this red-hot market, but patient investors can often find motivated sellers looking to raise some quick cash for other investments. A proper valuation is a crucial starting point for negotiating any property sale, and our team at Ferstl Valuation Services is here to help you get started!
We’ve been offering trusted real estate appraisals in Little Rock since 1967, and we’re proud to be one of the oldest and largest full-service appraisal firms in The Natural State. J.T. Ferstl, MAI, is also an Arkansas-licensed attorney who offers litigation support and expert witness testimony in eminent domain cases and property disputes. Contact us anytime you have questions about property values in Arkansas or if you’re ready to schedule an independent appraisal.
The process begins with an initial site visit from a licensed appraiser. During the visit, the appraiser will ask questions and take photographs, and you can significantly expedite the process by gathering all required documentation in advance. You’ll need documentation of the last sales price, recent land surveys, and an itemized list of improvements and upgrades with receipts or invoices.
The appraiser will then perform additional market research and consider several factors in determining the final valuation. One of the most important factors in determining a property’s fair market value is its location and the recent sale price of comparable properties (commonly known as “comps”). The appraiser will also consider the property’s acreage, square footage, overall condition, and the number of bedrooms and bathrooms. He will also consider curb appeal and amenities, as well as any recent kitchen or bathroom renovations.
You’ll receive a report in approximately 1-2 weeks that will include a detailed property description and current valuation, as well as a certification that the appraisal is an unbiased professional evaluation conducted in accordance with industry standards and guidelines. The report will also typically list any observed defects or issues that adversely affected the valuation. It’s up to you whether or not you choose to immediately address those issues, but it’s a good bet they’ll come up again on the next appraisal!
For more information about real estate appraisal services in Little Rock, contact us online or at 501-375-1439
