Real estate appraisers

It is commonly believed that a property appraisal is only done when a person wants to buy a piece of property. There are many reasons why reputable property appraisers like Abbe Edelman may be called upon to appraise property. Obtaining a property appraisal for investment properties can be a simple process, even though it is slightly different than obtaining one for other reasons. The property appraisal will give a potential buyer a value for the property based on the current real estate market and how much they can expect to pay for the property. It is important to remember that a property appraisal is not an exact science and it is very likely that prices can vary between appraisers. It is also important to realize that the market fluctuates and property values can too.

Why Obtain Appraisals for Investment Properties

There is nothing wrong with obtaining a property appraisal every few years. There are some investors who do this regularly to find out  how much a particular piece of property has appreciated, or depreciated. A property appraisal can be a very big factor when an investor is calculating the actual profits he is making on investment properties. Figuring up the taxes that need to be paid on property is also another reason for investors to get occasional property appraisals. If the prices fluctuate greatly, or the property is overvalued the investor could end up paying too much in taxes. For the investor it is crucial that they obtain actual property values via property appraisals by professionals like Abbe Edelman. For those who go on just what a tax assessor says it can mean substantial loss and be a very costly mistake. One of the ways to help build real estate wealth is by reducing the tax burden and this can be done through appraisals.

Of course when a property is being prepared for the big sale, it is necessary to have a recent property appraisal. That can give the investor the needed leverage so that they can get the fair market price for the property. Buyers and real estate agents often create their price quotes as well as offers based on the market value of the property. When an investor knows the current value and they are getting ready to sell they stand to be able to make the most money. Other reasons to obtain property appraisals for investment property you may own may include a divorce, an equity loan, estate planning or a mortgage refinance.

How to Obtain an Investment Property Appraisal

There are basically two different types of property appraisers. One type works directly with real estate agencies exclusively. These appraisers are typically licensed real estate agents with years of experience in making third party property appraisals. The other type of property appraiser is an independent appraiser. They do not work through any real estate agency. Before the property appraisal is scheduled ask the appraiser about what costs will be incurred. Also remember to ask prior to scheduling the appraisal what the appraisal process includes and if there are any extra reports that will be available. Obtaining additional reports can help an investor compare various properties in a single neighborhood and offer them a more accurate estimation of the property’s value. For those who live in the same state as where the property will be appraised, they may ask to walk through the property with the property appraiser. If they live out of the area, they may request that the appraisal documents be sent to them via mail as long as they include a value determined by the appraiser as well as his official signature.