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 very important. 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 go through the home performing an evaluation,
and then provide you with a written evaluation after he has gathered all
necessary information. Appraisers will also take 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 more than likely be able to
make 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 recommended. 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