Appraiser Independence
Hire an Independent Property Appraiser for an Unbiased Evaluation
Dealing in real estate requires a lot of knowledge about property markets. Not all buyers and sellers are well-acquainted with such matters. In such cases, it becomes important to hire a third party like a property appraiser who holds expertise in such matters.
Why an Appraiser?
Involving a property appraiser brings an element of impartiality in property dealings. When you deal directly with the opposite party (buyer or seller), you risk paying more for a property of lesser value or getting less for property that was worth much more. So, it’s a loss for either of the parties at a time. If you are a buyer and you do not want to be deceived into paying more, contracting with a property appraiser makes sense. These are certified, licensed professionals who will tell you the exact amount for your property.
Need for Independent Appraisers
At times, both the parties hire a common appraiser; at other times, each of them gets the property evaluated separately. However, under no circumstances the appraiser should have any vested interests or benefits out of the deal. If such a case is found, you need to get your property reevaluated. The valuation done by the previous appraiser stands cancelled.
Hiring the help of an independent appraiser makes sense if you wish to get the highest value of a particular estate whether they are related to your or the opposite party or not. But, for that, you must provide all the necessary documents to them.
Commercial property dealings are more complex than personal estate dealings. It takes a sharp and experienced commercial real estate appraiser to evaluate the real value of a business or commercial property in today’ times. It is better to hire a common appraiser for property evaluation for increased trust and transparency between both the parties (buyer and seller).
Avoid Spam Appraisers
If you are buying a property in New York, hire an appraiser who is specific to New York or has a profound knowledge of the New York real estate market. You can’t undertake the risk of hiring someone who is naïve about a certain place in spite of being a good property appraiser in another state. Moreover, don’t get into the trap of online appraisals. They are a joke! One cannot appraise a property sitting at home. Appraisals require a thorough inspection of the estate along with the assessment of all relevant documents.
Though property appraisers are licensed and certified professionals who have a right to appraise properties, never be blind to their decisions. You have a right to question them in case you have a doubt or query. An unbiased property appraiser will be happy to answer your queries to your satisfaction.
When you hire a New York Property Appraiser, they will inspect the property and note down their observations. They will also research into the matter, gather data, and analyze their findings in order to conclude to a price for the property. This may take few days to weeks. You need to be patient throughout the process if you need an unbiased price for the property you wish to buy or sell. An appraiser who skips one of the steps in property appraiser should be a cause for suspicion and concern.
