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Appraisal Defined |
Here for you | |
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As defined in the Uniform Standards of Professional Appraisal Practice (USPAP), an appraisal is an estimate of value. A reliable estimate of value is sought by Financial Instituitions which need appraisals to assist in their
underwriting decisions regardless of the loan amount, insist on an
appraisal to determine the amount of money they should lend to a credit
applicant. Those are not the only reasons real estate is appraised. Click
on "why appraise?" to learn more and once you are ready then go ahead and
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BUYERS Did you know that you have the option to pick your own appraiser prior to purchasing your property? An unbiased opinion of value is easily met by real estate appraisers when there is no pressure to meet a certain value. This in turn assures you that your home is not over valued and represents the market value of conforming properties within its neighborhood. In a buyers market, you dictate the pace of events. So as you go through the various houses in your neighborhood to pick out the one you love, make sure you also select your preferred appraiser to ascertain the sales price.SELLERS Have you had your home listed for over 3 months and still no market reaction? Maybe you are toiling with the idea of selling your property but are still uncertain. However you would like to know its true value, for future reference when the market is ripe to sell. Whatever your reason is for selling the property, appropriate pricing can be the difference between a 60 day market reaction time and a 200 day reaction time, which is not a rarity in today’s market. Contact us for an appraisal consulting appointment and we will give you advice on your immediate neighborhood and appropriate pricing prior to hiring a real estate agent and listing. LENDERS Say good bye to the appraiser you can never get a hold of when you need him. With a total of 12 hours a day of contact you never have to worry about that again. You can also take advantage of the well supported and documented estimates of value thus eliminating failure of reports to pass underwriters requirements and reducing the overall closing time. Condition requirements are met within the day and for minor changes you will get the report back within 2 hours!
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