Exercises to the text:
Exercise 1. Make up all kinds of questions to the text.
1. ________________________________________________________________
2. ________________________________________________________________
3. ________________________________________________________________
4. ________________________________________________________________
Exercise 2. Insert the proper words.
1. Real estate appraisal, _______________valuation or land valuation is the _______________ of valuing real property.
2. Appraisals are needed because _______________ to, say, corporate stock, real estate transacts very_______________.
3. The _______________usually provides a written _______________on this value to his or her _______________.
Report compared appraiser infrequently client property process
Exercise 2. Make up sentences, using these words.
1. divorce
__________________________________________________________________
2. surveyor
__________________________________________________________________
3. infrequently
__________________________________________________________________
Exercise 3. Underline the unnecessary word.
1. The value usually sought is the property's mortgage Market Value.
2. Not only that, but every property is certified different from the next, a factor that doesn't affect assets like corporate stock.
3. Sometimes the appraisal differentiation report is used by both parties to set the sale price of the property appraised.
Черкаський політехнічний технікум Для студентів III курсу, група ОД
Text № 9. Викладач Кособокова А.В.
Text 10.
House Appraisals
If you are in the midst of selling or buying a house, one of the buzzwords you are probably hearing is "appraisal." The appraisal is a key element to the home-buying process. Unless you are buying a home with cash, you cannot complete a home sale without it.
Identification
A
n
appraisal is a report that is prepared by a trained professional in
the real-estate field who is knowledgeable
about what gives a home its worth. The appraiser evaluates
your home's interior
and exterior,
makes notes of upgrades and deficiencies,
and determines
what he or she believes is your home's actual worth.
How Is an Appraisal Determined?
The appraisal is based on the size of the home, location, number of rooms and bathrooms, additional features and the quality of the details of the house. For example, if you just installed new moldings and floors throughout your home, the improvements will increase its value. A home that has a deck, an extra bathroom or a new kitchen will also be appraised higher than similar homes without those upgrades.
Черкаський політехнічний технікум Для студентів III курсу, група ОД
Text № 10. Викладач Кособокова А.В.
Why Does It Matter?
An appraisal is important to every party in a home transaction – the homeowner, mortgage company, realtor and buyer – but it is probably most important to the current owner, as it determines how much equity he or she has in the home.
Cost
The price of an appraisal varies by company and by the size of your home, but a report for an average single-family home ranges from $300 to $400.
Warning
Several issues can arise as a result of an appraisal. If the appraiser comes back with a figure that is lower than the homeowner expected, the home sale or refinancing deal may fall through. For instance, if a homeowner is trying to sell her house for $150,000 and the buyer needs financing, the appraised amount of the home has to meet or exceed that figure in order for the mortgage company to close.