Choosing Your Real Estate
Appraiser
If you have been considering purchasing a real estate property for
personal use or as an investment, you’ll need to employ the services
of a real estate investor. If you play to finance your home through a
bank or other lender, you’ll more than likely need to get the property
appraised first. Banks and most lenders want to know the value of the
home for your protection, as well as make sure that the home they are
financing is worth the total amount that you take on the loan.
In most cases, the appraisal shows that the home does certainly meet
or exceed the asking price. In some cases however, the appraisal will
come back saying that the home is worth less than the selling price.
If this is the case, the buyer normally has to either drop the deal or
try to negotiate with the seller to get a price that meets the
appraisal.
For those very reasons, a real estate appraiser is exceedingly vital.
When you are dealing with a home, one appraisal can make a deal or
break it. Even though you may not be financing your purchase through a
lender or the bank, you should still make an effort to get the home
appraised and find out the true value. You should also make a point to
find the best appraiser that you can afford. If you hire an appraiser
who isn’t that experienced, you’ll pay for it later when you discover
that the property isn’t worth what you paid for it.
A real estate appraiser will examine the home completing an
evaluation, and then provide you with a written evaluation after he
has gathered all necessary information. Appraisers will also taken
into consideration the replacement costs as well. Also, they will have
to very land descriptions as well. There is a lot of work involved
with appraisals, which is why it’s so very important that each step of
the process is performed correctly by a qualified real estate
appraiser.
If you have a real estate agent, he or she will in all probability be
able to create a recommendation. Keep in mind that this doesn’t mean
the recommendation is the best; it’s just someone who your agent works
with. To ensure that you get the right appraisal on your home you’ll
need to find yourself an appraiser who is capable of completing the
job.
When you look for your real estate appraiser, you should look for
someone who comes highly proposed. You can ask family and friends for
their outlooks, or search local papers, even the Internet. If you take
your time and search for the best real estate appraiser that you can
find – you’ll normally get an appraisal that is right on target.
ABOUT THE AUTHOR
Bob Schwartz, is a Certified Residential
Specialist, CA licensed real estate broker with
www.Brokerforyou.com. Bob
has over 27 years of residential real estate experience, authored a
number of published articles and served as an expert witness for
San Diego lawyers. You can contact
Bob via e-mail at bob@brokerforyou.com or visit his highly popular
San Diego real estate website at:
http://www.brokerforyou.com
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