Are you confused about real estate measurements? In this article, we provide a comprehensive guide on how to get a sense of real estate measurements for homebuyers in the US. Learn about key terms, common measurements, and tips for better understanding property dimensions.
Buying a home is a significant investment, and understanding real estate measurements is crucial to making an informed decision. From square footage to lot size, various measurements play a vital role in determining the value and suitability of a property. In this guide, we will explore how to get a sense of real estate measurements to help you navigate the home buying process in the US.
Understanding Key Terms
Before diving into the specifics, it is essential to familiarize yourself with some key terms related to real estate measurements:
Square Footage: Square footage refers to the total floor area of a property, usually measured in square feet. It includes all livable spaces within the property, such as bedrooms, living rooms, kitchens, and bathrooms.
Lot Size: Lot size refers to the total area of the land on which the property is built. It is typically measured in acres, square feet
“Whether it's the seller's agent or the seller themselves it's often beneficial to have someone present during the appraisal to answer questions and provide that extra information,” said Beth Graham of Beth Graham Appraisals.
What not to say during home appraisal?
As a realtor or a homeowner, you should avoid saying things like: – Is it going to come in at this “value”? – I'll be happy as long as it appraises for at least the sales price. – Do your best to get the value as high as possible.
Should you walk around with the appraiser?
You can walk around with the appraiser, but don't hover. It's probably best to give a little space so the appraiser is not distracted. Remember too if you walk into a room first, this means the appraiser will have to wait for you to get out of the way to take a photo.
Will seller come down to appraised value?
The listing agent will typically ask if the seller will agree to reduce the price to the appraisal value, “which is what most buyers expect the sellers to do.” “But the seller may or may not agree to that, and the buyer options are to make up the difference,” she adds.
Who should be involved in the appraisal process?
Generally the employee's supervisor leads the appraisal process. Other people — the human resources manager, coworkers, customers — may also be involved. A growing number of companies invite workers to review their supervisors to increase input and validity of appraisal results.
How do you educate clients about the real estate market?
Let's take a look at some of the more tried and true real estate client education methods that agents use.
- Seller/Buyer workshops for real estate client education.
- Believe it or not, people still read.
- Host a real estate radio show.
- More time than money? Focus on blogging for real estate client education.