Hiring Your Own Appraiser

November 25, 2013

Before you place your home on the market, consider hiring your own appraiser. In many states, appraisal management companies are in charge of contracting an appraiser, often to mixed results. By hiring your own appraiser, should your management company’s estimation of your home’s value turn up a low figure, you will be able to redirect to your independent appraisal for comparison and create a more comprehensive figure on which to base your asking price.

Ideally, your appraiser will be able to provide you with their background of solid experience, their familiarity and working knowledge of your area and its specific market trends, knowledge of local home values and a system of evaluating local trends which grades specific figures with respect to the overall market. Ask for proof of an appraiser’s training, licensing or accreditation. Require that they provide you with the quantifiable criteria they use to create an estimate. These questions are vital to ensuring the validity and accuracy of your appraisal, enabling you to set an asking price that is realistic with regards to both your home’s value and what your specific market will bear. A realistic asking price leads to a fast sale, where you can be assured that you’re getting the maximum amount of your home’s worth, protecting the investment you’ve made in it. 

Related: The Four P’s Of Selling