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Real Estate Information |
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Choosing a Reputable Real Estate Appraiser
When you are considering purchasing a property; either for investment or personal use you will need to hire a real estate appraiser. If you are financing the purchase through your credit union or another financial institution will most likely be required to hire a real estate appraiser to perform an appraisal on the property. This is because your Credit Union wants to ensure that your dream home doesn't become a nightmare and that the purchase they are financing is really worth the amount loaned. In the best case scenarios the appraisal is returned indicating that the fair market value of the home meets or exceeds the sales price. The problem comes in when the appraisal indicates that the fair market value of the home is less than the sales price. In the latter case, the prospective buyer would either need to drop the deal or renegotiate the sales price with the seller. As you can see, it is critically important that you find a reputable and competent real estate appraiser. That one appraisal can easily make or break a deal. Even if you are not financing the purchase through a lending institution it is still worth the effort to insure that the property you are investing in is really worth the amount of the purchase. If you should hire a less than competent real estate appraiser you find out the hard way later on that the property you purchased was not really worth the amount that you paid. Real estate appraisers perform an evaluation of a property and then provide a written evaluation after consulting standardized checklists and comparing the property in question to county land value sources and sales information on nearby similar properties. The estimation of replacement costs is also taken into consideration. Finally, real estate appraisers must be able to verify legal land descriptions. As you can see, there is quite a bit of work involved in performing a competent real estate appraisal and it is important that each step be performed accurately. You real estate agent will most likely be able to suggest a real estate appraiser but this does not necessarily mean this is the right person for the job; it merely means this is the person they most often work with. To get the job done right you need to find a real estate appraiser who is able to perform a completely objective evaluation. Look for someone who has been formally trained and who possess a license with the state real estate commission to perform such appraisals. Also look for someone who possesses adequate experience in performing real estate appraisals and who is knowledgeable about the local real estate market. Some states require real estate appraisers to have experience as a real estate agent and to hold a current real estate license; even if your state is not one of these it may be a good idea to look for someone with these qualities anyway because they probably have their finger on the pulse of the local real estate market. Like real estate agents, appraisers commonly specialize in certain types of real estate. Some specialize in commercial properties while others work only in residential properties. Some appraisers even specialize in only high end or luxury properties. Many consumers find it beneficial to select a real estate appraiser who specializes in the specific type of property they wish to have appraised. Finally, don't forget to ask for references and/or recommendations from any real estate appraiser you consider. Nicole Soltau is the President and Founder of CreditUnionRate.com. The Leading Credit Union Directory.Search, Find, Join.http://CreditUnionRate.com
MORE RESOURCES: How Jordon Hudson, 24, amassed $8 million real estate portfolio within months of meeting Bill Belichick New York Post Real estate transfers in Adams County from April 21-25, 2025 Muddy River News Real estate report: Three key factors are behind Louisiana’s surge in investment Baton Rouge Business Report Hyderabad blues: Real estate sales in city see biggest drop The Financial Express Exclusive: Trump's first real estate project in Qatar to be announced by Qatari Diar, Dar Global Reuters ArchCrest opens new real estate division Northern Nevada Business Weekly Two key real estate bills take aim at industry regulations Real Estate News by RealEstateNews.com Advocacy Scoop: New NAR Poll Unveiled—Tax Reform, Real Estate Policy and Voter Opinion National Association of REALTORS® Cattaraugus County: Ellicottville home, Machias property lead March real estate sales Olean Times Herald Lupoli Companies to Break Ground on Major Development in Littleton Boston Real Estate Times Licking County real estate transfers for April 14-18 reach $1.4 million in Newark The Newark Advocate Richland County property transfers recorded April 21-25 Mansfield News Journal Ranking Arizona: Top real estate law firms for 2025 AZ Big Media Fond du Lac County property sold for $530K in latest real estate transfers for April 21-25 fdlreporter.com The Pipeline: Commercial real estate roundup for 5.2.25 Richmond BizSense ThoughtCraft Architects Marks 20 Years of Design Excellence Boston Real Estate Times People on the Move: New execs at HomeServices, RE/MAX Real Estate News by RealEstateNews.com Mid-America Real Estate closes sale of 34,431-square-foot shopping center in Midtown Detroit REJournals Real estate veteran named president of regional Berkshire Hathaway HomeServices Hartford Business Journal Property transfers: Nursing facility, rental complex sell for more than $1 million Canton Repository Alexandria Real Estate Equities Looks Juicy But Uncertainty Keeps Me Sidelined (NYSE:ARE) Seeking Alpha Startup radar: Seattle-area tech companies build software for robotics, real estate, and more GeekWire Raith seeks to raise $700m for non-core US real estate fund IPE Real Assets Household Struggles Weigh On Real Estate And Spending Seeking Alpha Blackstream opens luxury office near Lake Keowee GSA Business Report Current Real Estate Roundup - May 1, 2025 Nantucket Current April real estate transactions CraigDailyPress.com Franklin Real Estate Development finds inspiration in Greenville’s history upstate business journal Solano Real Estate Scene: Slow down, buy a house Daily Republic 'Slow and steady': How a couple retired early by buying one rental property a year with 5% down payments Business Insider Secluded estate near Ann Arbor is Washtenaw County's most expensive home. Price: $8.99M Detroit Free Press Job Market Defies Tariff Fears to Remain Strong in April, Offering Jolt of Confidence to Homebuyers Realtor.com Solano Real Estate Transactions: May 2, 2025 Daily Republic Berkshire region real estate sales – May 2, 2025 The Berkshire Edge How the Dallas Commercial Real Estate Industry Could Fare in the New Tariff Environment - D Magazine Real estate performance in Quarter 1, and some perspective Garden City News Here's what local experts say the Baton Rouge real estate market will look like in 2025 The Advocate CENTURY 21 Real Estate and Institute for Luxury Home Marketing Launch Collaboration With New Q1 2025 Luxury Market Report Franchising.com Abundant listings and stable prices not enough to drive April sales in the Fraser Valley GlobeNewswire Crossing Real Estate: They Shaved Another $50k off the $1.25 Million Fishtown House - Crossing Broad SDSU: SDSU Imperial Valley alumnus finds new meaning in real estate career Imperial Valley Press Online What's the most expensive property sold in Rhode Island? May 2 real estate transactions The Providence Journal Costar Group (CSGP): “Bloomberg Of Commercial Real Estate” Insider Monkey What properties sold in Bryan, Chatham and Effingham counties this week? Search the list here Savannah Morning News Real Estate Magnolia Reporter Report: Health care real estate gains greater favor in Twin Cities Finance & Commerce US Commercial Real Estate Leader Peachtree Group Launches 114-Room Residence Inn in Ocean Township, Tapping into Jersey Shore’s Expanding Hospitality Market Travel And Tour World Graham Norton’s Manhattan Carriage House Is Listed for $5.595 Million The New York Times Real Estate: Market Pulse (April 2025) Seyfarth Shaw LLP Real estate transactions: Week of May 2, 2025 Inside Tucson Business When Donald Trump mocked a real estate icon for having a 'Trophy Wife' The Economic Times Status update: 7 Upstate commercial real estate projects upstate business journal How to Choose the Right Real Estate Broker Investopedia Tarek El Moussa Calls for 'Real Reform' in Real Estate Industry: 'I Saw Families Lose Everything' House Beautiful Commercial real estate listings: Wingstop leases space on Three Chopt Road - Richmond Times-Dispatch Commercial real estate listings: Wingstop leases space on Three Chopt Road Richmond Times-Dispatch Compass goes retro with launch of ‘Private Exclusives Book’ - Real Estate News by RealEstateNews.com Compass goes retro with launch of ‘Private Exclusives Book’ Real Estate News by RealEstateNews.com Real estate report: Industrial market remains ‘chronically underbuilt’ - Baton Rouge Business Report Real estate report: Industrial market remains ‘chronically underbuilt’ Baton Rouge Business Report Windermere ‘confused’ about Compass’ claims of collusion Real Estate News by RealEstateNews.com |
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