Choosing a real estate appraiser is an important task. An appraisal can be the key point of obtaining finance, a court decision and much more.
Many people do not get a choice in appraiser, such as one appointed by a lender. However you often have surprisingly flexibility to choose your own lender or to recommend a preferred appraiser you would like to use.
When obtaining your own appraisals, especially in a second opinion case such as a low appraisal, the field to choose from can seem wide.
How do you select the right real estate appraiser? Here are key qualities to look for you in your real estate appraiser:
Experience
An experienced appraiser brings a wealth of knowledge to the table. Ask your appraiser how long they have been practicing for.
Experience can be further broken down into general experience, local experience and house type experience.
A good appraiser will be happy to answer questions about how long they have been an appraiser, how long in the local area and their level of experience with the type of property.
Something to note is that appraisers cover a wide range of area, and a coverage area of several hours driving time is not unusual.
Certifications and Licensing
A good appraiser is certified and licensed. Your appraiser should be able to provide specific details or their education in their area and a copy of their relevant registrations if requested.
Tip: ask your potential appraiser about their ongoing education efforts. A good appraiser is always looking to improve their skills and remain current.
Methodology Used In Appraisals
In the Internet age, it is all too easy for an appraiser to use off the shelf forms or to rely too heavily on software.
A good appraiser uses a mixed methodology of software, various data and experience and sound judgment.
A trusted appraiser will be happy to discuss with you the methodology of how they arrive at an appraisal.
Keeping Up To Date
Home appraisal is a fast moving business! It is too tempting for some appraisers to rely on dated data or methodologies.
A top appraiser is aware of market trends and movements in your neighborhood.
This can make a big difference to your home value as many areas begin to recover from the Great Financial Crisis - ensure your appraiser is up to the minute.
References
A quality appraiser has a happy client base! References should be available to you on request, preferably from similar type homes or your local area.
Ask About Your Role
Did you know you might provide an appraiser with information to help them form a decision?
A valued appraiser appreciates a client's input and solicits answers to any questions they have about the property.
What Happens If The Appraisal Is Low?
An ethical appraiser makes no promise you a high appraisal. Appraisals are fair and unbiased.
You do have rights in the occasion of a low appraisal. Before beginning with an appraiser perhaps ask them what the appraisers approach is to a low appraisal and your right to dispute it.
A quality appraiser will inform about their dispute process and reassure you they will discuss any concerns you have after the appraisal report is delivered.
What Areas Do You Cover?
Precision Appraisals covers
• Greenville
• Spartanburg
• Anderson
• Simpsonville
• Taylors
• Greer
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