Photos Critical to Appraisal Work

During Realcomp’s recent Appraiser Focus Group meeting, which was held during the month of July, our Appraiser volunteers acknowledged how important property photos are to the appraisal process and asked Realcomp to share this information with MLS Subscribers.  When it comes to listing photos, "the more-the better" was the resounding comment. The reason: a picture really is worth a thousand words. The group noted the following photographs as being the most desirable to appraiser professionals:

·         Front Exterior Photo

·         Back Exterior Photo

·         Interior Photos of the Entire Property – Including All Rooms

·         Basement Photos – of the Finished Areas, the Unfinished Areas, and the Overall Basement

·         Mechanicals on the Property – including the Furnace, Air Conditioner, Hot Water Tank, Electrical Boxes, etc.

·         Outbuildings on the Property

·         Up-to-Date Photos (When the Condition of the Property No Longer Matches Previously Taken Photos)

·         High Quality Photos – that Can be Enlarged for Viewing Details

·         Clearly Labeled Photos (i.e. Living Room, 2nd Floor Bathroom, etc.)

·         Photos of Commercial Properties – Taken from a Distance and Up Close

This data is then used by Realcomp’s Appraiser community to create accurate appraisals, which are in turn needed by Brokers and Agents for properties being financed by their customers/buyers.

 

 Last Modified: Monday, August 18, 2014

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