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Hiring an Appraiser to determine fair m

  • April 07 2014 - Lakeside
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Answers (4)

Profile picture for aracz
Hi,

It can be a good idea to hire an appraiser if you have a unique property with no good recent comparable sales in the area.

Kind regards,

Arpad

 
  • April 07 2014
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Profile picture for The Leonardo Group
You can hire an Appraiser. The cost is about $400-$500 for an independent appraiser. Appraisals are subjective opinion since different appraisers pull different comps. An experienced seasoned Realtor that is an expert in the area also might be able to provide you valuable info (a CMA and a BPO) about your property based on its neighborhood. There are things to consider: location, views, # of BDs, # of BAs, upgrades, traffic/school noise, power lines, lot size, etc etc. You might start with interviewing 3 Realtors in the area and go from there. If the 3 Realtors are close in their opinion, you can have a good idea for what your home is worth. If the 3 opinions are wide, then you might consider hiring an Appraiser that is a LOCAL appraiser. 
I hope this helps. 
  • April 07 2014
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A good, knowledgeable realtor can give you an accurate opinion of value. This will be a comparative market analysis (CMA) or brokers price opinion (BPO), which is a written report showing the best, recent sales activity of the most similar homes near your property. The better agents will call the agents with pending sales to find out if they are closing at or over asking. At present, my market place is experiencing a lack of inventory and many multiple offer situations, resulting in increasing prices, so I factor that in to my list price opinion. If the owner is selling, I then have to sell it twice, once to the buyer and then to the buyer's appraiser! Sometimes, I know I can sell it higher than what it will likely appraise for if the "comps" are not there. If hiring an appraiser, Ask a realtor for a referral! Appraisers, just like any professional, are not all equal. Choose wisely!
  • April 07 2014
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Yes you can. The Realtor tries to do the same thing but factors in what to list it for knowing it's a buyers market here where I am. So we list higher knowing the buyer will want lower. The biggest difference is one if free.
  • April 07 2014
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