What information can I provide about my property to support my opinion of value?
Thanks for checking in! Any information you can provide to us to help us get to know your property better is valuable. The best information to provide us is photographs, repair estimates or anything else that you may have pertaining to the condition of your property. Ongoing or significant problems such as foundation issues, flooding, major wood rot, damaged roofing, or major plumbing or electrical issues typically require recent bids or estimates for repair. These bids or estimates will provide the cost to cure which will be necessary to provide at the hearing. Photos tell us that there is a problem, but the estimates will provide an actual cost.
If you have pulled any permits or done any renovations recently, please send us the costs associated with the work that has been completed. Remember that properties are valued as of January 1st, so if renovations are ongoing, only the work completed as of January 1st needs to be accounted for.
If you have recently purchased your property and the purchase price is lower than your notice value, a copy of your signed settlement statement is needed to show purchase price. Please provide any other pertinent information regarding the sale if it was anything other than a typical open market transaction. An open market transaction typically refers to a publicly advertised, arm’s length transaction between two unrelated parties where each party has their own interests in mind.
General photos of your property are very helpful as well. Interior and exterior photos will aid in comparing your home to the others in your area. Kitchen, baths and main living areas are great places to take photos. There are certain characteristics of each property that are important to know when looking at the class of your home and the recent sales in your neighborhood. Your photos can help us make sure that you are being treated equitably.
If you don’t have any additional information to provide, that’s fine too! It is not required and your agent will do their own research of market and appraisal data when preparing for the hearing.