How Do You Appraise A Home With A Termite, Ant & Rat Infestation?
Many variables must be considered when appraising a home’s market value. These include the condition of the home, comparable properties for sale and those that have sold and the current trends in the local real estate market. Appraisal is more of an art than a science, as many variables are open to interpretation. Getting a proper appraisal of a home becomes even more challenging when a property suffers from infestation. Begin as you would with any standard appraisal. Pull comparable properties in the area that have sold recently, those under contract and those currently on the market. Average out the value of the home based on this data in order to determine the market value. Visit the property and look at the condition of the home. Termites, rats and ants can cause irreparable damage to a home, especially if the infestation has been long term. The property will be undoubtedly in need of serious repair work. You will need to determine the cost of repairs and whether money for any of t
