The appraisal on any one-of-a-kind property needs to be especially precise and detailed. If you have a unique listing on your hands, you can provide detailed information for your appraiser to get the appraisal that you want. Hanratty provides the following suggestions to help your appraisal go smoothly:
* Calculate construction costs: How much would it cost to build the house today?
* Determine the land value: What is the price of building lots in the region?
* Find the three most comparable sales, even if they appear radically different from your one-of-a-kind property. How much are homes on similar lots selling for?
* Adjust your price.
* Explain your appraisal by citing precise and provable reasons. Avoid vague observations such as “wonderful view.”
* Never mislead; stay with quantifiable facts.
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