Appraisal Tips

• Get an Appraisal BEFORE you Buy -The intended purpose of the appraisal for your mortgage is for the lender to make a lending decision on and nothing more.  It very well may protect you, but it could make matters worse for you as well.
  
  If you have already contracted for a property, that contract price is required to be provided to the appraiser so they know exactly what price you and the seller have already agreed to which can have a tremendous influence on the appraised value.  This is because market value is essentially the price a buyer and seller agree to  and in a sale under contract, the price you and your seller have agreed to is known.  This is why the appraised value for purchases often equals the purchase price.
  
  If you order an appraisal from us before the contract is final, you will have a second and unbiased opinion of the property's value without the influence of an existing purchase price.  This will enable you to make a more knowledgeable and confident buying decision.  Remember - between the appraiser, the agents/real estate brokers, and the lender's representative, we, as appraisers, are the only ones that do not receive a commission and the outcome of the sale is inconsequential to our income (in the vast majority of cases).  We just want to have a happy client!
• 'Will My Appraisal Be Shared With Anyone, Like My Ex-Spouse or Tax Assessor? - Absolutely not.  Your appraisal is completely private and we cannot, by law, give it to anyone.  The only exceptions to this are if there is a court order to surrender the appraisal or if the Office of Real Estate Appraisers requires a copy.

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