About Appraisals
An appraisal is the intelligent choice when selling something which has substantial investment, such as a home. An accurate appraisal is important is today's evolving real estate markets. Real estate market volatility, demographic trends, local economic climates, and emerging diversification of neighborhoods can all impact real estate buying and selling trends. An accurate appraisal will assure the current value of a home, and presents an objective, third party opinion of a property's current market value.
Does An Appraiser Work on Commission?
Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Appraiser fees are based on the completed report and not a percentage of the sales price.
Appraisals From The Lender's Perspective
A residential appraisal acts as a security tool for lenders in order to assure the value of the home is equitable with the amount of the loan requested. When a home is sold, the buyer's lending company will order an appraisal to make sure the home is worth the amount being mortgaged.
More Reasons For Appraisals
Refinance or Home Equity Loan
PMI Removal (PMI - Private Mortgage Insurance)
Estate Planning
Estate Liquidation
Divorce Actions
Relocation
Why Get A Certified Appraiser?
A Certified Appraiser is licensed by your state and has successfully completed comprehensive educational requirements. A Certified Appraiser also has a vested interest in his or her own continuing education.
Can I Get An Appraisal Online?
There are websites which claim "instant appraisals". Although such sites can give a seller or buyer a ballpark idea of what a home in a targeted area may cost, only an accurate appraisal will give the true market value. In the case of online appraisal web portals, the utilities may utilize out of date or defunct databases to access information, may not take into account a home's amenities, may not properly analyze recent neighborhood sales and trends, and will not do a proper Comparative Market Analysis. An online appraisal will not be accepted by a lender as proof of a property's value. Online appraisal portals or "services" should be viewed with great scrutiny. Many are merely information harvesting devices, so be careful of what information you input, especially if you are the seller. In our recent research of online appraisal web portals, we found that one of the web portal owners traced back to the Philippine Islands.
