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How do I go about having a home appraised I want to buy?
Before I buy I want to know it’s worth the amount I’m spending
Asked By Sandra K. | Beckley, WV | 1184 views | Tips Advice | Updated 3 years ago
Answer(4)
Amanda Courtney
REP Realty Group
When buying a home, the appraisal is usually ordered by your lender after you’ve gone under contract. However, if you’re paying cash or want one before making an offer, you can hire a licensed appraiser directly. Look for one who’s certified in your state and familiar with the local market your agent can recommend someone reputable.
- 2 months ago
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Jeannie Ricke-Finley
CENTURY 21 Arizona West
Sandra, If you are paying cash an appraisal may not be needed. If you are financing the finance institution will order an appraisal to determine if the risk of loaning money is a good deal for them. Costs of appraisals are going up drastically because of the short supply of appraisers and big demand for their expertise.
- 4 years ago
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Shelly Hendrix
RE/MAX Next Generation
If you are financing with a lender, they usually make you get an appraisal and will order it for you.
- 4 years ago
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Michael Jensen
Fathom Realty Group, Inc
I agree with Shelly at RE/MAX, and unfortunately most often you will be paying for the appraisal in advance. In effect you wont know the market value until that appraisal is done. There are a few online tools that can estimate value, but the appraiser will take more into consideration than the online estimates. If you are working with an agent, chances are they have access to tools to let you know if your close. If the property doesn't appraise, you can try to renegotiate, however every deal is unique to its parties so no way to know going in. Lean on your agent for help on this.
- 4 years ago
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