Well, you need to sell the property, but it is not possible until you determine its market value. As a matter of fact, you cannot determine the value of your house as you are not an experienced person in filed and does not know what the prices in the market are. Instead of wasting your time and money in just making your personal estimates hire the services of the Home Appraisers. He is the one who is professional and experienced in his field so he can better determine the price of your property. Real estate transactions require the appraisal so get the opinion of an appraiser before selling your property.
The Role Of An Appraiser:
As a matter of fact, an appraisal is a professional appraiser’s opinion on the value of real estate. The appraiser searches and visits the appropriate market areas and analyzes the market situation to determine the value of your property. The appraisal is required for:
- Single family house
- Office building
- Apartment building
- Industrial sites
- And shopping centers
Though the reason for an appraisal varies as per case but you must hire an appraiser to know the market value of the property. Following are the reasons for property appraisal:
- To sell a property
- To mortgage a property
- Property insurance
- Tax purposes
The role of a property appraiser is to provide an unbiased and objective opinion about the value of the property. He is a professional and experienced person who provides information to the following persons:
- A person who wants to sell the property
- Buyer of the property
- Lend property
An appraisal does not determine the value of the property on his gut feeling. In fact, he researches the market, gathers facts and analyzes the statistics to estimate the value of the property. He collects the information regarding specific properties and gives his opinion.
Types Of Values:
Following are the types of values a real estate appraiser determines:
- Investment Value:
The investment value of the property is the value to a particular investor. It may be different from the market value of the property. We can say that the difference between the investment and market value encourages the buyers and sellers to enter the market and earn the profit on a property.
- Market Value:
The market value of an asset is the price at which it would trade in the market. The real estate appraiser is the person who determines the market value of the property.
- The NPV:
The NPV stands for net present value. It is the value the cash flow that an asset generates for a specific owner.
So you are interested in selling or buying a property then never make a decision until you determine the value of the property. A real estate appraiser is an expert who gives an objective opinion on the value of the property on the basis of facts. Now selling a house is not difficult when the House Appraisers are in the field.