Tips for Choosing a Real Estate Appraiser

Tips for Choosing a Real Estate Appraiser

by Donovan Carter

Whether you're investigating the value of your own property, the potential of an investment property or trying to obtain financing for a home, you'll need the services of a certified real estate appraiser. If you're trying to hunt down the value of a particular property and need to hire a real estate appraiser, keep reading for some tips on how to locate a quality person.

1. Ask your Bank

Because most lenders require proof of the value of a property before they will finance its purchase, they can often recommend trusted appraisers that they work with on a frequent basis.

If you trust your bank or lender, ask your mortgage agent for an appraiser recommendation.

2. Check with your Real Estate Agent

Your real estate agent is there to help you make this sale happen. Since they work in the business, they deal with appraisals and appraisers every day. Likely, your agent will be able to recommend a number of appraisers that they work with and trust.

3. Opt for Experience

The value of a home, whether you're buying or setting an asking price, is going to depend largely on the appraiser's recommendation and appraisal. Hiring the wrong appraiser or an inexperienced person could cost you a lot of money, whether you set the asking price for your house too low or you buy a home that's simply not worth its stated value.

When hiring a home appraiser, look for experience and good references, not the cheapest price.

4. Ask Family and Friends

Some of the best recommendations come from our trusted friends and families, so ask around. If a member of your family or circle of friends has recently purchased a home, ask them about their appraiser and whether they would recommend them.

When hiring a service provider on a recommendation, always mention that you were referred to their business and who gave the referral. Referral-based business can often go a lot smoother than a cold call.

5. Check Online Customer Reviews

Many consumer review sites, like Yelp.com, let customers review and rate service providers and businesses in their area. These sites let you read actual customer reviews that include the good, the bad and the ugly about a particular business. So, before you hire, check online for customer reviews and comments.

Hiring a real estate appraiser is necessary, but also easier than it sounds. To get the best results, ask your bank, real estate agent and family and friends for recommendations. Finally, remember to opt for experience and check available customer reviews.