1. Cost Approach to value is what it would cost to replace or reproduce the improvements as of the date of the appraisal, less the Physical Deterioration, the Functional Obsolescence and the Economic Obsolescence. The remainder is added to the Land Value.

2. Comparison Approach to value makes use of other ""bench mark"" properties of similar size, quality and location that have been recently sold. A comparison is made to the subject property.

3. Income Approach to value is of primary importance in ascertaining the value of income producing properties and has little weight in residential type properties. This approach provides an objective estimate of what a prudent investor would pay based upon the net income the property produces.

Then, after thorough analysis of all general and specific data gathered from the market, a final estimate or opinion of value is correlated.

- Aurora Home Appraisals

If there is a Aurora property you want to buy, sell or refinance, you will have to get it appraised to determine its value. You basically need an appraisal anytime you need to officially determine the value of your house. Even if you’re getting a home equity loan, the loan amount is based on the equity of your house which is determined by an appraisal. A certified Aurora appraiser uses standardized methods to determine the value of your prospective home: market conditions, location, lot size and structure size and condition. If you need an appraisal, for any reason, fill out the form above and a knowledgeable Aurora representative will put you in touch with our Aurora appraisers.

- Who Appraises Aurora Property?

Aurora appraisals are conducted by certified Aurora appraisers. We don’t do the appraising directly, but there are reputable appraisers and appraisal agencies with which we frequently work. If you need an appraisal, for whatever reason, we can arrange one for you with one of our reliable appraisers. If you are going to be borrowing from us, the house in question will have to be appraised by an appraiser for Aurora who has been approved by us. For more information about how to go about getting a property appraised, please fill out the above form with all applicable information and one of our experienced Aurora appraisal experts will contact you.