Property appraisals normally are required prior to buying any piece of real estate in order to establish the correct price for it.

Prior to an appraisal, however, it all should start with a thorough inspection.

Before a prospective appraiser establishes the value, an inspection should be carried out to asses the condition of the property.

Hiring an property inspector will definitely give you a better idea of the actual condition the property is in.

As a buyer, however you should be able to pre qualify the property before proceeding further.

A simple checklist might save you a lot of money.

Most inspectors will take into consideration several main areas, as a potential buyer, it could be very helpful to look at these areas ahead of the inspection:

Legal Framework

It may be worthwhile to hire a legal firm to make a preliminary check of the legal status of the property, find out quickly if there are any potential impediments that may derail the process.

An ounce of prevention may save the day! Doing it ahead of the property appraisals will determine if the project is even feasible.

Exterior of the property

• Access Limitations – How difficult or easy is it to access the property, does it have ramps for handicapped persons, are the doors wide enough?.

• Exterior Walls -Are there visible signs of damage?, cracks or blisters?, if so, make notes to discuss the root of the the problem.after the appraisal.

• Signs of  Water Damage -Visually inspect the outside of the structure for any water damage, especially where the structure meets the ground. If any cracks are noted in the wall, the root cause would need to be established.  Make sure that rain water drains and gutters  direct water away from the property. Also research if the area is prone to flooding.

• Corrosion –  Look for signs of it on metal components such as iron fences, widows or doors. Telltale signs are over painted metal window bars, fences and hinghes.
• Roof – While best left to professionals,  noticing the condition of the roof and finding out whether maintenance work has been done would be helpful.

 Interior of the Property

• Interior Condition – Checking the conditions of floors, walls, doors and windows  will help you ahead of any inspection. Again takingnotes of things that do not look right will be the way to go.
• Structural damage –  Notice if there are visible cracks on interior walls or signs of settling in the foundation, doors that do not close well  and windows that do not fit squarely.
• Moisture damage – Look for blisters or peeled paint, and if it smells like mold.
• Condition of pipes, electrical installations, AC units, boilers and heating elements.

In conclusion, only if a thorough analysis has been done, the chance of surprises and hidden costs will be greatly diminished.

Property appraisals will decide if funds are available or not, better be prepared for it.