It
is important to know the important steps in getting the financing you need in
how appraisal. A real estate appraiser helps you identify the real price of a
property. Also, he or she protects the bank from getting stuck with property
that’s worth less than they’ve invested. And you from paying too much for a
house simply because it was love at first sight.
Look
for a real estate appraiser that specializes in your market area. A real estate
appraiser who is not familiar with your local area may not be of your best choice.
Some appraisers service two or three areas while others specialize in one. It
would be reasonable to consider knowledge of your real estate appraiser.
Another would the years of experience in the business. Being a real estate
appraiser is difficult and takes a minimum of 5 years working with a variety of
properties, good education, and a good mentor to produce a competent real
estate appraiser.
Real
estate appraisers are then licensed after completing coursework and internship
that familiarize them with their real estate markets. The lender might use a real
estate appraiser on its staff, or contact with an independent appraiser. If you
are allowed to choose, make sure that it isn’t someone the lender is familiar
with, because the results might be subject to review before they are accepted.
Once you find a real estate appraiser, hang around while he does his job. Watch
what he’s doing and feel free to ask questions. Be sure to ask for a copy of
the appraisal. A full-fledged real estate appraiser will give you a combination
of the “comps” and the specific condition of your own house. The value
comparison of comparable houses in comparable conditions in your neighborhood
is called the “comps.” Thus, make it the real estate appraiser’s responsibility
to check what the other houses have sold in the past 12 months. This task will be the basis whether you
picked the right one.
Tam
Bay Realty LLC
1408N
West Shore Blvd Suite 1000Tampa, FL 33607
(813)
908-0706
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