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.

Real Estate Advisor Helps You With Options Of Your Choice

While your specific needs determine your choice of property, you are often left
with limited options to explore on your own. This is where a real estate advisor
proves to be a source of great help. He offers a plethora of options to clients
looking for the best property. Being an active player in the market, he has the
latest information about the exclusive options that are not listed on a property
portal. When you spell out your choice, he is able to offer multiple options. This
makes it easy for you to choose the best.

Location

Most of the time you look for a property near office, school or a commercial hub
for the sake of easy commute and comfortable living. When you spell out your
choice of having a dwelling unit in proximity to any of these places, a real estate
advisor is able to quickly assist you with multiple options in the same price range.
The availability of inventory takes you by surprise because your independent
search did not yield such a wide array of choices.

Price

If you have issues related to price and your search does not yield your choice
within your budget range, you should not give up hope. Almost in a magical way
a real estate advisor is able to come up with a slew of options for the choice you
have in mind. Trust his resourcefulness to fulfill your choice without any kind of
compromise or disruption.

Amenities

If you have decided to buy a property with modern amenities for your family, a
real estate advisor will suggest multiple options that offer more amenities than
you have thought of. As most projects compete with one another, they try to give
something special to their esteemed clients. Only a real estate advisor does
proper research to compare the best and suggest the same to you. When you
make a particular choice as your priority, you need to check more options before
freezing one.

Preference

Sometimes your choice is related to a minor issue like park-facing apartment or
ground floor. You conduct extensive research of portals and post online queries
but a real estate advisor is prompt in delivering what you are looking at. He gives
you leads regarding ground floor and park-facing apartments in different gated
communities. When he helps you with a wide array of choices in this regard, you
have to admit his professional edge in delivering customer needs.

Ready to move

If your choice is ready-to-move property and you are getting various under
construction options, there is no need to worry. Share your requirement with a
real estate agent and he comes up with options galore to solve your problem.

Property size

If your first choice is an apartment neither too big nor too small, with a servant
room or a study room, then your options get limited because few builders come
up with such add-on options. But the truth is that such options are available and
a real estate agent knows the details of such properties. When he shares the
information of availability with you, you react in utter disbelief to hear about them
for the first time. From the verge of making a compromise in your choice of
getting exactly what you have in mind, a property agent makes it easy to have
your choice.

A real estate agent always gives you more options – to make you choose from
the best. This forte of a property agent is something no property buyer can claim
to have. This difference is evident only when a buyer opts for a real estate agent
to do the job without thinking of the extra financial burden of paying brokerage.