When it comes to finding a real estate appraiser, many homeowners don't know what to look for. Here are 5 things to look for in a property appraiser:
- Always make sure a property appraiser is licensed or certified by the state to perform real estate appraisals. This will ensure that the individual has met certain standards and is authorized to perform a property appraisal. The state will also show any disciplinary action if the individual has one. A good source for all of U.S appraisers are listed at http://www.asc.gov
- Don't be afraid to ask an appraiser for a copy or his or her license. A good appraiser will readily provide documentation. Copies of licenses are commonly requested by their other clients and once you have the copy it is a good idea to check with the government agency (as stated above) to ensure it is active and in good standing.
- Ask the appraiser what percentage of their work is performed in the neighborhood. Appraisers who do a lot of their work or live in a particular area often have a deeper knowledge of the market and property values then others outside the area.
- Find out if the appraiser has experience in performing appraisals for consumers as opposed to real estate professionals. Homeowners would have different needs than a loan officer or a lawyer. An appraiser who understands the different needs is more likely to help you learn about the appraisal process and answer any questions you may have.
- Make sure it is an appraiser who is willing to answer you questions and willing to explain the process. An appraiser that makes you feel more comfortable with the process is a true sign of a professional.
No appraisal is an exact science but if done properly the appraisal can give a credible result. Through market analysis a trained appraiser can give an opinion of value which can be relied upon and be well supported with the proper analysis.