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Help the Appraiser With
Market Value of House

What can I do to help the appraiser?

Here are some home appraisal tips to think about when you are buying that new or older home you have been dreaming about. I will teach you how to help the appraiser and get the biggest bang for your buck.

As a first time home buyer, you need to know as much about the home you plan on buying as you can.

If at all possible, you want to be involved in the overall appraisal process. What do I mean by this?

As a first time home buyer, you need to know as much about the home you plan on buying as you can.

If at all possible, you want to be involved in the overall appraisal process. What do I mean by this?

Well, if you can choose the person that will appraise the home that is better than if the lender does.

It's not always possible to do this. If the lender insists on using their own appraiser, well get ready for a biased report. Since the appraiser is on their payroll, this person will deliver what the lender wants to see.

Help The Appraiser - Home Appraisal Tips To Save You Money

Also, you have a right to have your own appraisal done too. Yes you may have to pay for it, but it could be worth it. You can ask for a copy of the appraisal from the lender, (since you're paying for it anyway, you have this right) then give it to your new appraiser.

This is one of the biggest home appraisal tips I can offer you to help the appraiser. Now he/she can get different comparable's and give you a whole different prospective.

Home buyers have enough to be concerned with, without having to worry about whether the estimated value of the home they are purchasing is correct or not. A home appraisal is typically ordered by the financial institution where the mortgage will be obtained.

Since there are several considerations that go into making up this appraisal, you want to be sure that the actual value is determined since you are the buyer.

Home Appraisal Tips

You should never confuse the comparative market analysis (CMA) done by a real estate agent with the appraisal.

help the appraiser

While real estate experts will use a comparative market analysis during the process of helping sellers to come up with a realistic price to ask for their homes, this is not the same as a home appraisal. The first of home appraisal tips to remember is that this report from an appraiser will be much more detailed.

This well researched report will help the appraiser to determine the fair market value for the home. This report is also the only valuation that the bank will use as it decides whether it will loan the requested money on the said home. Lenders always look out for their own interest. You need to look out for yours!

With this thought in mind you will find these tips helpful I'm sure.

Here are a few things that the first time home buyer should do to help the appraiser.

Home Appraisal Tips #1

Remember, residential appraisals are very detailed reports, but during your own inspection of the property you can keep an eye peeled for problems. Home appraisers are generally well-trained, but no one is perfect, so in efforts to help the appraiser come up with a good market value, ask your real estate agent to provide you with comparable sales in the neighborhood. Present these comparable's to the loan institution or the appraiser you hire.

Home Appraisal Tips #2

If the appraisal value comes in below what is expected, and the bank is reluctant to cover the purchase price, ask for the second appraisal. You or the seller will likely have to foot the bill (as I mentioned above) for this appraisal, but if the first one was completed by an inexperienced appraiser, or mistakes were made, it will be well worth the added expense.

You are the customer, always keep that in mind. Everybody works for you. The lender, loan officer, appraiser, real estate agent etc. No money moves without you the first time home buyer! Empower yourself to take this position. Be nice, but insist on your way since at the end of the day, you will be the one paying the bills!!

I cannot stress this enough to my web visitors. Please take charge of your transaction.

Hopefully, these few home appraisal tips will help when you are ready to purchase a new home.

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Do you have more questions? Have a Question is available to help you get those answers you are seeking. Go ahead...pick my brain!

If you are already in the process of applying for a loan, you may want to understand more about Home Warranty Insurance.


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