You know you need an appraiser to value your home, but when you look online, there are so many to choose from!
Sure price may be a factor, but simply going for the cheapest appraiser may likely lead to disaster!
But what else do you ask the appraiser when you give him or her a call?
This blog post will guide you through that process.
In order to determine the best appraiser for you home, here are some categories of questions you can ask before you hire:
.Do they work alone or with a company? Are they a full time appraiser? If they work full time as an appraiser, how many appraisals they usually do in a day, or a week?
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Also get their contact information and when is a good time, you can reach them. This can make communication easier especially when you might need to provide information about anything concerning the appraisal.
You should get to know the appraiser you are going to work with.
Are they are licensed or certified? Do they have other professional designations? or Have they taken any continuing education in the past 3 months?
These questions will let you know if the appraiser is qualified to do the job.
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Certified appraisers will have completed more basic education and will generally have a greater depth of experience compared to licensed appraisers.
How long have they been appraising property? Are there specific types of properties they appraise?
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It is recommended that the appraiser you hire has at least 5 years of experience for simple properties and at least 10 years for more complex ones.
You would also want to know their experience in appraising homes similar to yours, especially if your home has some special features.
When the report will be ready?
This will ensure when you can expect the report to be ready. It is important to establish a date to avoid delays to the whole process of buying or selling a home.
What is their fee? What is the basis of what they charge?
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it is advised that you do not hire an appraiser that charges a percentage of the appraised value. This indicates a bias in the home’s value.
Appraisal fees vary depending on your location so researching the usual cost for your area and type of home will help give you an idea of the range.
Now that you know what kinds of questions to ask, here are 5 guide questions to get you started when interviewing the appraiser. You may add other questions according to what you need to know.
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