The importance of property appraisers in a Real Estate transaction.
Appraisers are an essential tool used by both the buyer and seller in a transaction. An impartial appraiser will come in and check out the home and property and come up with true value. This true value is crucial for the transaction of the home. A sellers goal is to make the home sell for the most possible. A buyer’s goal is to purchase the home for the least amount of money. Real estate appraisers are appointed to find the true value of the property in favor of no one and completely bias, acting as a referee for both sides to make for a smooth transaction. We have all seen what the uninformed zestimate can do to a home purchase.
Appraisers are trained and approved by the state. An appraiser will visit the home in question and run through a checklist of things to look for in their final calculation such as lot size, upgrades, and features. During calculation, factors come into play such as available comparable, or similar properties that have sold in the area recently. Typically, appraisers use a time frame of three to six months in considering comparable sales.
We always recommend an appraiser to find a true value for the home. Not only to help lenders make the right decisions but also to maintain the integrity of a community's market. As a Real Estate Brokerage, we want to protect our clients the best we can. Making poorly informed transactions can be detrimental to our clients and the local economy as a whole. We do not want to lessen Southwest Florida's overall appeal to home buyers from national and international markets.