How To Get A True Real Estate Valuation

For most people purchasing or selling a home or any kind of real estate, the first thing that they need to know if the real estate's valuation. This is usually the first reference point for determining a selling price. If you are a seller, then a real estate broker can typically be expected to provide a competitive market analysis that includes the value of your real estate.

For a buy / sell transaction that involves a lender, some people complain that a lender's appraiser typically values real estate very near the actually selling price. That shouldn't come as much of a surprise since the Uniform Standards of Professional Appraisal Practices board that certified / licensed appraisers belong to require that the terms of the purchase agreement are evaluated. Yes, some appraisers will reverse the math to get the final appraisal final to come in very close to the selling price, most are not. If fact, you can expect that a professional appraiser will do a complete real estate valuation that includes using recent purchase prices for homes in your neighborhood.

Still, if you want a more unbiased opinion, one not impacted by a real estate transaction, you will need to find a reputable appraiser and have them provide an appraisal without giving them an estimated value of the home in question. Additionally, hiring an appraiser to review an already completed appraisal is a less expensive option that gives you insight into the quality of the initial appraisal.



First Time Home Buyer