About Phillips Valuation & Consulting Residential Appraisals
A residential real estate appraisal report is an independent, unbiased, third party opinion that provides an official estimate on the market value of a residential property from an accredited professional.
Qualified Phillips Valuation & Consulting appraisers will determine the fair market value of your property and offer sellers an accurate figure of what a home could sell for on the open market. We also protect buyers with details for regarding its actual market value.
Accurate Home Appraisals
Expertise and the qualifications required for appraisals for:
A formal appraisal is essential for calculating a realistic listing price. Many sellers who have consulted with Phillips Valuation & Consulting before putting their homes on the market have benefited when selling real estate in Wausau.
Appraisal for Home Buyers
Many lenders require a residential property to be appraised before buyers make a formal offer in order to ensure that the amount of the requested mortgage loan is accurate to the home’s actual value. Independent appraisals also give buyers a chance to verify whether the list price is reasonable and may be included as a contingency clause in purchase agreements where the bank’s approval of the loan is conditional to a professional appraisal.
Appraisals for Home Refinancing
As is the case with an original mortgage loan, lenders may request an appraisal of your property when requesting a refinancing loan if the property has decreased in value over time to ensure that your home’s value is equivalent to the requested loan. In addition, the equity in your home may have also decreased depending on any changes in its market value which our licensed appraisers are qualified to assess.
Types of Residential Appraisals:
Phillips Valuation & Consulting understands how important an objective and detailed appraisal can be to facilitate your personal or business real estate transactions and completes reports in a timely and efficient manner. Call us for a confidential and free consultation.
Is an Appraisal the Same as a Home Inspection?
It is important to differentiate between a licensed appraisal and a home inspection. While a home inspection provides information on the structure and surrounding area of a residential property; an appraisal factors in additional pertinent information to arrive at a precise monetary value that is based on specific and qualified calculations made by a qualified and unbiased professional.
Wausau Land Appraisal
Vacant Lot Appraisal and Agricultural Land Appraisals
Phillips Valuation & Consulting has proven expertise in the area of land appraisal for various forms of real estate in the Wausau region. Our vacant land appraisal services include residential, commercial and industrial lots for development and agricultural land and building appraisals for rural areas, acreages and ranches for farming or recreational development.
Land Value Estimator
A broader analysis that encompasses a wider range of variables must be studied by an appraiser when calculating values for vacant land. One of the key considerations is determining what the land can be used for, or the feasibility of the specific planned development. Once the ‘highest and best use’ is determined, the standard sales comparison method is used for market analysis.
Vacant land appraisals require more detailed information and a high level of expertise that may include trends in new construction and research on competitors in similar development markets in order to provide accurate cost and profit analysis reports.
Land Appraisal Service
Commercially zoned real estate in Wausau often requires the qualifications of an experienced and licensed appraiser to provide a detailed market evaluation prior to, or during development. Phillips Valuation & Consulting offers specialized services that include appraisals for both vacant land and agricultural land in the Wausau region that can be customized for:
Phillips Valuation & Consulting’s qualified experts begin research on zoning regulations laws in the specific areas to properly verify whether vacant land is listed as residential, commercial or industrial and to ensure that no building plans or approvals are already placed on the property.
Unlike sales comparisons used in standard residential and commercial real estate market evaluations, Phillips Valuation & Consulting appraisals for vacant land in Wausau reflect figures which are generally calculated at price per square foot, or price per ‘buildable’ square foot. According to the applicable laws and regulations in each Wausau region.
If your land is already under development a Phillips Valuation & Consulting appraiser can provide development cash flow evaluations which factor in construction costs and other expenses. Some examples being, insurance, real estate property taxes and developer and commercial owner profits and/ or lease commissions.
Data on adjacent properties and any planned development in the area may also affect and/or increase the valuation for vacant land, particularly if property nearby is being purchased for expansion or additional development.
Agricultural Land Appraisers
Our appraisers are recognized by the region’s major lenders and financial institutions. Phillips Valuation & Consulting maintains a full database of both urban and rural land properties in Wausau. We provide reports ranging from a full narrative to shorter form. For more information on agricultural land appraisal services please give us a call.
Real Estate Appraisal Professional Ethics
All Phillips Valuation & Consulting appraisals are customized to meet your specific needs and written in accordance with the Uniform Standards of the Professional Appraisal Practice and to meet the requirements of all local, state and federal laws. Contact Phillips Valuation & Consulting for a free consultation and to speak with a member of our team regarding vacant land appraisals.