What Do Midwest Appraisers Look For?

[Erik Nordgaard]

Good afternoon from San Diego, I am looking to BRRRR in Kansas City and am wondering what do appraisers look for when valuing a house in the midwest, specifically in Kansas City? Are things like location and walkability more important or do they emphasize square footage, bedroom and bathroom number, etc more? Thank you in advance.

[Michael Kinsella]

@Erik Nordgaard

Specifically for SFR's, I've seen appraisers pay attention to;

1. Property similarity...things you mentioned like SF, bedroom count, bathroom count, etc.

2. Location proximity...how far away were the comps from the subject property?

3. Sale date...generally it seems that appraisers are looking at sales within the past 6 mo's that meet the above criteria.

Best,

Michael