Whether you are researching the value of your own property, the potential for an investment property, or trying to obtain financing for a home, you will need the services of a certified real estate appraiser. If you’re trying to figure out the value of a particular property and need to hire a real estate appraiser, read on for some tips on locating a quality person.
1. Ask your bank
Because most lenders require proof of a property’s value before financing your purchase, they can often recommend trusted appraisers they work with frequently.
If you trust your bank or lender, ask your mortgage broker for an appraiser recommendation.
2. Check with your real estate agent
Your real estate agent is there to help you make this sale. Since they work in the business, they deal with appraisals and appraisers every day. Your agent will likely be able to recommend a number of appraisers that you work with and trust.
3. Go for the experience
The value of a home, whether you are buying or setting a sale price, will largely depend on the appraiser’s recommendation and appraisal. Hiring the wrong appraiser or inexperienced person could cost you a lot of money, whether you set the sale price of your home too low or you buy a home that is simply not worth its declared value.
When hiring a home appraiser, look for experience and good references, not the cheapest price.
4. Ask family and friends
Some of the best recommendations come from our trusted friends and family, so ask. If a member of your family or circle of friends has recently purchased a home, ask them about their appraiser and if they would recommend them.
When hiring a service provider with a recommendation, always mention that they were referred to your company and who made the recommendation. Referral-based business can often be much more fluid than a cold call.
5. Check customer reviews online
Many consumer review sites, such as Yelp.com, allow customers to rate and rate service providers and businesses in their area. These sites allow you to read actual customer reviews that include the good, the bad, and the ugly of a particular business. Therefore, before hiring, check customer reviews and comments online.
Hiring a real estate appraiser is necessary, but also easier than it sounds. For best results, ask your bank, realtor, and family and friends for recommendations. Lastly, remember to go for the experience and check the available customer reviews.