A pre-construction appraisal from Brookhaven Home Appraiser can help you determine whether building the house of your dreams can become a reality or if purchasing a home off the market is a more feasible option. New home construction is stressful enough in itself, getting an appraisal from Brookhaven Home Appraiser can eliminate that feeling of uncertainty about if your proposed home will be worth as much as what it will cost to build. We will be happy to explain the appraisal process up front, as well as speak with your builder. When the report is finished, we’ll also personally go over it with you to answer any questions you might have.
Many mortgage lenders also now require a pre-construction appraisal with any new construction home before approving a loan. This ensures the property is worth the amount of the loan and the lender will recap its money. Most, if not all homes built with the aid of construction financing in today’s market require a pre-construction appraisal. The appraised value should reflect what the property would be worth if it existed already and was built as planned.
Typically the owner will have selected a building site as well as a set of plans and specifications for the home prior to applying for the loan. Upon application it becomes the responsibility of the appraiser to appraise the subject property in accordance with the plans and specifications provided by the owner, assuming all work will be completed. Knowing this beforehand can save an individual from over extending his/her resources. Trust Brookhaven Home Appraiser with your pre-construction appraisal, and experience what sets us apart from the other appraisers.