The Importance Of Real Estate Valuation
Hire A Real Estate Appraiser: How Do I Find A Qualified AppraiserHiring an independent appraiser is key to knowing what your home is worth. There are at least two minor issues related to hiring an appraiser. 1. Where do I find them? 2. How do I know they are qualified? The answer to the first question is a local bank contact, a real estate attorney, or a trusted mortgage broker. The first question to ask is how often have yous used their services and how reliable were they. Regarding the second question referenced above; Once you have the referral check the licensing agencies in your state to verify their credentials, and finally interview the appraiser on their experience in appraising properties in a down market, and what is the effect of foreclosures are on your area.
Talk To At Least Two Licensed Real Estate AgentsAside from being free, Licensed Real Estate Agents have a good pulse about what is going on in a specific area. The appraiser referenced in section one above will cost approximately $150 to $300, but the Real Estate Agents generally are free of cost. I would hire the appraiser and put those numbers against the information you get from the Real Estate Agents. Getting a valuation on your property is absolutely critical to the decision making process when in a distressed real estate market. Making a decision about what legal course to take when one is in foreclosure without knowing what the value of your property is, is like firing valuable ammunition in the dark, you will make a lot of noise but you will miss your target.