3 Tips to Find a Real Estate Appraiser
Many people are familiar with the term “real estate appraiser,” but what does that mean? An appraiser is a licensed professional who determines the value of real estate. They can either appraise it for sale or mortgage purposes. In the housing market, an appraisal can be a deal breaker—so it’s helpful to know what traits to look for in an appraiser before hiring one.
How Appraisal Process Helps You
The appraisal process is an essential step in the real estate transaction that helps determine the fair market value of a property. It’s also crucial for both buyers and sellers, with different objectives in mind. For example, a buyer may use an appraisal to determine if their offer is reasonable based on what comparable homes have sold in the area.
For sellers, an appraisal can help verify that your home is worth what you think. If there are discrepancies between what you think your house is worth and what an appraiser thinks it’s worth (and those discrepancies can be significant), you might need to rethink how much you hope to sell your home for or whether or not it’s time to consider relocating.
Tips to Find the Right Property Appraiser
- Look for State certifications. State and federal agencies regulate an appraiser’s profession, so the appraiser should be a Certified Residential appraiser, or Generally Certified for commercial. And the best are also designated by the Appraisal Institute, the residential appraisal would be an SRA and the commercial an MAI.
- Check the appraiser’s experience and track record. The longer an appraiser has been in business, the more likely they will have developed a good rapport with clients.
- View the appraiser’s website or LinkedIn profile page. If you see many different names there, it means that person is connected to other local professionals, indicating their reliability, market acceptance, and having a high service demand.
Real estate appraisals are necessary for both sellers and buyers.
When buying or selling a home, you must have it appraised. Appraisals are not only helpful in determining the value of your property but also in getting the best price for yourself.
If you’re selling your home, you will want to get an appraisal from a professional who can determine the value of your property based on its condition and features, as well as current market conditions. This will help ensure that you sell at the right price.If you are buying a house, an appraisal ensures there won’t be any surprises when it comes time to close on the deal and pay off all debts of both parties involved in this transaction.
With so much at stake when dealing with real estate transactions, hiring someone who knows what they are doing is essential!
Hiring a professional like Rob Bodkin of North Sound Valuation is an excellent strategy to ensure you have the most reliable value opinion for your home. A good real estate appraiser can see the big picture and understand all the factors that determine a home’s value — from architectural to neighborhood characteristics. Using an entire picture approach helps ensure that the valuation is fair, accurate, and worth the money you’re investing.