Why do you need a competent St George Utah appraiser when buying or selling your St George Utah real estate?
What does a real estate appraiser really do?
Is an real estate appraisal accurate? Can two different appraiser get different values for the same St George Utah real estate?
First off let me provide you with some answers to those questions and more. Your St George Utah real estate appraisers primary job is to determine the current market value of your home or any real estate. To help you, your lender or yourself determine what is a price that will cause any St George real estate to sell or to be refinanced.
An appraiser will do a complete walk through of the interior and exterior of the property noting amenities and condition. He or she will make detailed notes that will help them be fair and accurate with the appraisal process. They keep their eyes and ears open for the good and the bad. Different types of loans mean a completely different type of appraisal needs to be performed ie FHA/VA, USDA, Conventional or refinance. There are strict rules and regulations that your St George appraiser must adhere to. Is a home inspection necessary if I am getting an appraisal? The answer is definitely YES! Check out this page for more information APPRAISAL OR HOME INSPECTION. Who pays for the appraisal? More times than not you will be the one paying for the appraisal. As a homeowner to establish value for a refi or to establish a value to list your home. A powerful tool especially in an appreciating real estate market. There are exceptions and you lender or appraiser will be able to determine who pays and when. Currently as far as the buyer obtaining financing is concerned your St George Utah appraiser will be chosen randomly in a raffle type system. When a lender or financing is involved no more picking out “your” favorite appraiser! I’m sure you can seed the problem that may create. After the bust that was a change made here in Utah. As a buyer an accurate appraisal will prevent the lender from loaning more than the home is worth which will protect you from overpaying. I have seen where two different appraisers on the same home where $15,000 apart. The higher value came from the appraiser that was doing a FHA appraisal which is stricter than a conventional appraisal. The conventional appraisal was under valued. Great for the buyer not so great for the seller. In this case my seller held out and three weeks after the low conventional loan appraisal we generated an offer for $15,000. more which my seller gladly accepted and the deal was closed. The sad part was for the first conventional loan buyer that did not get their dream home due to a low appraisal.
There are a multitude of considerations and concerns, too many to mention in this blog. I am available to answer any questions on appraisals. If i don’t have the answer I will get the correct answer for you. Remember that your St George Utah appraiser is a key factor in the sale, purchase or refinance of your St George utah real estate.