When Buying A Property

Traditionally, before a bank/lender will loan you a single penny on a property, it will hire a Professional Appraiser in order to limit its own risk. Only after the lender has satisfied its concerns and objectives (based on the appraisal report), it will finance the property.
Banks/lenders take Appraisers and Appraisals very seriously and will not make a loan on a property in which the appraisal report has found the property to be over priced or in need of repairs (even if you have perfect credit and a substantial down payment).

If you are planning to buy a property, You can do it two ways: do it yourself or hire a Real Estate Agent. No mater which method you choose, it will be a wise decision to make a small investment in a professional appraisal and here is why:

Purchasers believe that they are getting a good deal if they make an offer lower than the listed price. But how far above the market value was the property listed? 10%, 15%, maybe even 20% above the fair market value? A negotiated price of 10% less than the listed price on a property that was listed at 20% above its value is not a bargain, so when you buy how can you be sure what the property in question is really worth? Real Estate profits are made when you buy and Appraisal is about the true market value of a property. A professional appraiser is objective, trained and experienced and will be able to determine the current market value of the subject property ensuring that you are not over paying for the property.

If you decide to work with a real estate agent when buying a property, his/her legal duty is limited to find you a property that will satisfy your needs and to present your offer to the seller. A real estate agent will not get involved with property valuations, so how can you tell what the property in question is really worth?

It is your best interest to have an objective third party's opinion of value prior to signing any Real Estate Contract. An Appraiser can provide you with a pre-offer appraisal so you have an accurate figure to guide you before you make an offer to the seller and will protect you from over paying for the property. In addition a professional appraisal can:

• Be a very valuable negotiating tool
• Indicate to the seller that you are a very serious buyer
• Make you aware of problems and eliminate last-minute hassles
• Decrease the chances of unknown problems
• Help you make one of the largest financial decisions in your life

For a Thorough, Timely, Professional Appraisal Call (813) 244-7072

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