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Copyright © 2006 by
Bob Schwartz
San Diego
real estate broker
Certified
Residential Specialist
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Choosing Your Real Estate Appraiser
If you have been thinking about purchasing a real estate property for
personal use or as an investment, you’ll need to appoint 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 indicates that the home does indeed 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 extremely essential. 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 inspect the home carrying out 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 most likely be able to
assemble 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 advised. You can ask family and friends for their opinions,
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.
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