State Wide Realy Co: Farmville, VA
Info On Appraisals
There are many steps to home or land purchases one of which may be an appraisal.
What is the Purpose of an Appraisal?
A real estate appraiser determines the value of the property being bought based on the economy, location of the property, and any improvements (e.g. house, well, septic,etc.) that are on the property.
Why is an Appraisal Important?
An appraisal can mean the difference between a deal going through or not or can be utilized to settle right of way or easement issues with a property. This among other things is the reason it is important to choose the right appraiser.
What Do I Look For in An Appraiser?
An appraiser that lives and works in the area where the property is located. This person would understand the uses, value, and regulations for that area in comparison to someone outside of the area that is not familiar with the market, area, or value that would be placed on any improvements, etc.
You choose your appraiser. Most people think that you have to go with the appraiser your financial institution or someone else tells you to go with but in fact the choice of appraiser lies with the buyer. A buyer can find an appropriate appraiser several different ways. One way is to ask other property owners in the area for recommendations; another is to look up appraisers for the county that you are buying in and read any reviews that there may be about that person/business.
Good Luck and Happy Appraiser Hunting!
Thinking of Buying? Let one of State Wide Realty Co’s 15 local real estate agents with
over 400+ years of combined experience help you!
Call 434-392-6163 or visit www.VaStateWideRealty.com today!
311 East Third St
Farmville, VA 23901