What is an Appraisal

What is an Appraisal?
An appraisal is an independent, unbiased opinion of value. It is based upon Market research, location of the property, condition of the home and the amenities of the home being appraised. An appraisal is an important step in the home buying or refinancing process and in securing a loan if it is federally funded the home must have an appraisal.

As an appraiser we provide an unbiased estimate of what a buyer might expect to pay or a seller receives for a home or vacant land, where both buyer and seller are informed parties.

What are some of the types of Appraisals? Not all appraisals are completed for a bank or mortgage companies, some are needed for private and personal purposes such as determining an opinion of value for an estate sale, probate, divorce, to dispute property taxes, remove PMI Insurance, bankruptcy or even helping a homeowner who wants to sell their home on their own (aka FSBO) for the owners to have a better and more informed bases to determine what to put their home on the market for.

As you can see there are many different reasons that an appraisal is needed and why it is important that you have a qualified professional Appraiser to assist you in some of life’s tough decisions.

Please contact us if you need an appraisal or are not certain what path to take and need a consultation, an appraiser from Affiliated Appraisal Group will help you or your client to have the most credible real estate value opinions that banks and major lending institutions need for home loans, or work with your attorney and give them the property information they need to best represent you. With our years of experience we are able to assist on a variety of property types, please give us a call or email us.