When do you need an appraiser? For many people, it just doesn’t occur to them a professional appraisal service would ever be needed for anything that would come up in their lives. Unfortunately, many of these individuals learn that they require appraisal services well before they understand how to choose the right appraiser.
If you’re wondering why you might require a real estate appraiser Blue Ridge GA, here is a list of five reasons why you might need to choose such a professional in the near future:
#1 — A Divorce Settlement
Marriages don’t always live up to the promises that were said on the wedding day, and an appraiser can help when it comes to determining the actual value of a property. This is a difficult process, but a professional real estate appraiser can make a huge difference!
#2 — Selling a Home
When tens or hundreds of thousands of dollars are on the line, a professional real estate appraiser can step in and provide crucial insights as they evaluate a home’s true value.
#3 — Bankruptcy
Hopefully, you never have to go through this process, but if you do, you’ll be glad to have a real estate appraiser in your corner to help you ensure that values are reported accurately and in a way that helps you move forward into a better future.
#4 — Home Measurement
Property measurements are often “off” by more than 25%! That’s why it’s so important to enlist the services of an appraiser who can provide an accurate measurement.
#5 — Tax Assessment Appeals
Do you feel that your North Georgia home has been overvalued? An appraiser can help you make your case if you determine that an appeal is appropriate.
Hire The Best Real Estate Appraiser Blue Ridge GA Has to Offer
As you can see, there are many reasons for hiring an appraiser, so when the time comes, be sure to hire one you can trust!
I lately did a commercial actual estate appraisal in Orlando on a piece of property owned by a nice lady who sadly had just lost her husband. Her adult son flew in from out of town to assist her settle the estate. The son necessary a commercial actual estate appraiser, and he hired me for the job.
He was confident that the property was worth about $750,000, according to a specific preferred free of charge on the net site service that you have most likely heard of (hint: it rhymes with willow and begins using a Z!) This no cost service is infamous for becoming a so-called trustworthy source for estimating what I call “quick and dirty” genuine estate values. When I met with him, he had the documentation for his web-derived predetermined value in hand, and he was overly confident that I could be onboard. I went back to my office and right away ran out the legal description for the property on my Deed Plotter software program.
It turned out that the property had considerably much less land location than this cost-free estimating service stated the property had. Right after even further investigation, it turned out that the free of charge on-line estimating service utilised exactly the same unit value and land location located inside the county property appraiser’s records. I did my sales search and identified 3 comparable sales inside two miles of the topic property, which had closed inside the past couple of months. These sales reflected a somewhat tight range, and to the disappointment of the owner and her son, the value was about 35% below the $750,000 value they hoped it could be.
Reality Check Number 1 – The assessed value estimated by the county property appraiser might be a definitely poor indicator of marketplace value
Reality Check Number two – the estimated value estimated by no cost on the internet valuation services may also be a actually poor indicator of marketplace value
I’ve never ever utilized this free of charge on the web value estimating service, since very frankly, I cannot envision that considerably analysis goes into these value estimates. On the other hand, I do check the assessments estimated by the county property appraiser on each and every 1 of my commercial appraisals, and extremely rarely do I discover that their assessments are in-line using the marketplace values. The valuation for a certain property is constantly individualized, and is typically derived from sales or rental information in an ever-changing marketplace.
For this reason alone, estimating marketplace value need to be left to the commercial appraisers who think about all the detailed analysis needed in every appraisal assignment.
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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 hire 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 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 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 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.
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