As a real estate professional, you understand the importance of properly valuing properties. This can be difficult to do without an accurate appraisal from a qualified appraiser. When you encounter certain circumstances, seeking out real estate appraisal services is the best way to move forward with your deals and serve your clients correctly. Listed below are five situations where it's important for realtors to utilize appraisal services.
1. Buying or Selling Investment Properties
When you find yourself either buying or selling investment properties—such as large apartment complexes, undeveloped land, commercial buildings and more—having an accurate estimate of value is essential in order to secure financing opportunities and make sound investments. A qualified real estate appraiser will understand the complexities of these types of properties and ensure that you're paying or getting a fair price for them.
2. Pre-Listing Appraisals
When preparing to list a property, it can be beneficial to have a pre-listing appraisal completed in order to determine an accurate value. This can help avoid issues with overpricing or underpricing the property when it's put on the market, allowing you to set a more realistic price point that's more likely to attract buyers.
3. Estimating Fair Market Value
In many cases, realtors need an estimate of market value when dealing with tax assessments, estate planning, settling disputes, and more. By using an appraisal from a qualified professional, you can ensure that the estimate of fair market value is accurate and up to date with current market trends.
4. Helping Clients Refinance
When helping clients go through the process of refinancing their home loan, having an appraisal done is often required by lenders in order to determine the current value of the property. This will help them decide how much they're willing to lend out for refinancing or if they'll approve a cash-out refinance option. An appraiser can also help determine if any improvements made on the property are worth enough to increase its value and qualify for a refinance at all.
5. Settling Disputes
When disputes arise between parties over the value of a property, it can be beneficial to turn to a professional appraiser in order to settle the disagreement. Having an impartial third party provide an accurate report on the current market value of the property will help all sides come to an agreement and move forward with their plans.
By understanding these five scenarios and how to properly address them, you'll be able to better serve your clients and make sure that everyone is getting a fair deal on the properties in question. When it comes time to seek out appraisal services, don't hesitate to contact professionals who will provide reliable estimates of value that you can use with confidence. Doing so will help ensure that all parties involved are satisfied with the outcome and will have a positive experience when working with real estate professionals.
Reach out to a professional to learn more about real estate appraisals.