FAQ
Here is a list of frequently asked questions when considering your property's valuation.
A: The Triennial Update is a study and analysis of real estate sales that have taken place during the three years after the most recent revaluation which was January 1, 2009. This study helps the County Auditor in determining the increase or decrease in valuation over the past three years.
A: Market Value is defined in the Ohio Administrative Code as, "the price at which a property should change hands on the open market between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having knowledge of the relevant facts."
A: Comparable sales are the cornerstone in the valuation of real estate. The transfer price of a property shown on a website may not tell the complete story. Seller concessions, repairs,
personal property, and a host of other factors that could inflate the sale price are not reported.
For example, a house transfers for $200,000. Further investigation by an experienced appraiser reveals that the seller paid 5% of the sale price or $10,000 towards the buyer's closing cost. In this example, the real sale price is $190,000. Seller concessions were and are still common throughout the area and will not show up on the County database.
A second example is the house that sells above the asking price. This transfer needs to be investigated as homes rarely sell above list price in this market area. The bottom line is that many houses transfer at a higher price than what the real price is and the County, Zillow,and other real estate data websites do not analyze sales.
Q: Do I Need An Interior Appraisal ?
A: That will depend on the property. In many instances, an exterior only will suffice. The County has most likely never been in your house and bases their value estimate on old information on file and an inspection from the street every six years. If your house is unique, excessively large, not visible from the street, or if the interior is in below average condition, then a full interior walk through could provide a more accurate value opinion.
A: We provide an independent opinion of market value based on the data available to us. We can't guarantee a lower value and fees are not contingent upon a predetermined outcome. Our services are confidential and the report is sent only to you. No one else will be privy to any information regarding you or your property.
A: The typical drive by fee is $175. A full appraisal ranges depending on the complexity of the property. Feel free to
call or
email for a quote on a full appraisal. The extent of the analysis is the same for both appraisal types.
A: Single families, condos, vacant land, and 1-4 family dwellings.