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Dickson
Realty
188 Hwy 50
Zephyr Cove, NV 89448
| Direct: |
775.588.9022
530.544.9022 |
| Fax: |
775.588.6062 |
| Toll
Free: |
800.923.9022 |
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FREQUENTLY
ASKED QUESTIONS ABOUT THE IN$TANT APPRAISER™
Frequent questions asked about our in$tant Appraiser™
are addressed below. If you have a question that is not
answered here, please click on the question mark at the bottom
of this page and ask us. We’ll respond to you immediately
and put your question on this page to help others as well. |
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1.
What is the difference between a “LITE”
and a “FULL” in$tant Appraiser™
report?
The LITE report is on one page. It contains
an estimated price ranging from the highest
to lowest reasonable price one might expert
for a property. The LITE report may also have
up to three comparable properties, though
the only information unto them will be the
address, sale date, sale price, and proximity
to the subject property.
The FULL report is on 3 to 4 pages. It contains
more information on the subject property than
the LITE report, and it also contains a sales
history. The value range of the highest to
lowest reasonable price contains a “confidence
score” (see below) which is a predictive
measurement of the accuracy of the estimated
market value. In other words, the FULL report
automatically gives you a prediction of how
accurate it thinks it is! The Confidence Score
ranges from a low of “1” to a
high of “99.”
Also on the FULL report is a market data summary,
as many as six comparable properties with
detailed information, a Neighborhood Price
Index chart and an Area Price Trend graph,
both in color.! |
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2. Why do I want and what would I do with
a Full report?
The FULL report is not an appraisal per se.
It is an automated value index. Some lenders,
however, will accept it as an appraisal. Most,
though, will likely want to use one of their
approved appraisers. Please check with your
lender, bank and / or mortgage broker with
any questions.
One of the best ways to use the FULL report
is as a helpful tool to determine pricing
strategy for a Seller. The comparables very
much help with this as well. Another excellent
use of the FULL report is to provide a BUYER
with a self generated, reliable report to
help them make a purchase,
or to confirm that they are not paying too
much. |
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3.
What company produces these reports?
Our in$tant Appraiser™ is run by VeroValue
software from Veros Software Inc. The software
provides a valuation report and Estimated
Market Value (“EMV”) for residential
property that is the product of automated
valuation technology, public record data,
and predictive technologies combined to provide
an estimate of the most probable selling price
of a residential property. This EMV and valuation
report is not an appraisal. No physical or
other inspection of the property is completed
as part of the valuation report.
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4. Will the in$tant Appraiser™ find
my house?
Most
of the time the answer is yes. At present
our in$tant Appraiser™ is more likely
to produce a reliable result in South Lake
Tahoe, CA than in Stateline, NV. This is primarily
because there are always more comparable sales
in our larger market.
The only way to be absolutely sure that our
in$tant Appraiser™ will, or will not,
produce for you is to try.
If our in$tant Appraiser™ does not find
your house, it is likely for one of two reasons:
either there are not enough good, recent comparable
sales to produce a reliable result, or your
area is not yet covered. New areas are being
added all the time. Here’s a list of
all US areas covered by our in$tant Appraiser™.
Coverage areas |
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5.
What if the appraiser doesn’t find my
house?
You
will not be charged if our in$tant Appraiser
does not find the house you are looking for.
This means you will not be debited for either
your FREE Access Pass or your fee for the
Full Report. If our in$tant Appraiser™
does not find your house, it is likely for
one of two reasons: either there are not enough
good, recent comparable sales to produce a
reliable result, or your area is not yet covered.
New areas are being added all the time. Here’s
a list of all US areas covered by our in$tant
Appraiser™. Coverage
areas |
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6.
What is a FREE Access Pass?
You are give FREE access four-times
to our Lite appraiser. We call each of these
occasions a FREE Access Pass. They can be
used for any house in the United States. |
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7.
How is the usage of my FREE Access Passes
determined?
The software running our in$tant
Appraiser™ determines usage. If you
have used all of your four FREE Access Passes,
the software will deny access. If you would
like more FREE Access Passes, please contact
us to discuss further usage. |
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8.
What does “confidence score” mean?
Your
Confidence Score is found on the upper left
side of a Full Report. It is normally on the
first line of information under the address
of the subject property and the name of the
owner of record. Sample
Full Report
Your Confidence Score is a predictive measurement
of the accuracy of the estimated market value.
In other words, our in$tant Appraiser™
automatically gives you a prediction of how
accurate it thinks it is! The Confidence Score
ranges from a low of “1” to a
high of “99.” |
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9.
How can I use my “confidence score”?
A higher
Confidence Score indicates a higher level
of accuracy. Your Confidence Score may be
used to help a Seller with his or her listing
price and strategy, and it may be used to
help a Buyer confirm that they are not paying
too much.
In some cases, your bank and or lender may
approve of your Full report. If that is the
case, then your Full report becomes the appraisal
for your house and it will save you hundreds
of dollars from the normal fees charged for
a traditional appraisal. Most banks and lenders,
however, will insist on using their own appraiser.
Please check with your bank, lender or mortgage
broker with any questions. |
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10.
What does an Appraisal normally cost?
An
appraisal is an essential component of a mortgage
loan. Appraisals are normally ordered by a
lender or Mortgage broker. The appraisal is
normally paid for by the Buyer, and the fees
for this are usually paid in escrow as part
of a Buyer’s closing costs.
A traditional appraisal normally costs between
$300 to $800 in our Lake Tahoe area. Traditional
appraisal costs across the country will vary,
though you can be reasonably confident that
an appraisal will cost at least close to the
$300 in the cost-range above. |
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11.
Why does your Full report only cost $30?
This fee of $30 is what our
partner changes us. We may receive a small
processing fee out of it. |
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12.
How do I order a Full report?
If you like your LITE report,
you may wish to order a FULL report. If so,
this is done by clicking the link to the FULL-report
on the upper left-side of your screen. |
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13.
How do I pay for a Full report?
You may pay for your Full
report by credit card or through your PayPal
account. In every instance, your privacy will
be completely protected. |
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