Top 10 Questions to Ask an Appraiser before Hiring Them

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The real estate appraiser plays a significant role in many of the situations that involve real estate. The situations may be a home purchase, estate settlement, divorce, bankruptcy, tax appeal or other. The appraiser’s role should never be downplayed, since their appraisal may be the difference between a successful transaction or a bad transaction and the potential loss of money.

Therefore it is very important that you hire a qualified and experienced appraiser for whatever the situation may be. Below is a list of 10 of the most important questions you can ask when hiring an appraiser.

1. What is Your Appraiser License Number?

This lets an appraiser know you’re serious about the possible assignment and will be checking to verify they are properly licensed. An appraiser should never hesitate to provide you with this information when asked. If they pause for even a moment, don’t waste your time and move on to another appraiser who’s not afraid to provide you with this critical information.

 

2. What is Your Contact Information?

Make sure you have the appraiser’s name and phone number in case the need arises for you to reach them in the future. Additionally, the prefix of their phone number is often an indicator as to whether or not they’re physically located within your local area which may indicate if they are located within your market area and are geographically competent.

3. Where is Your Office Located?

Hiring an appraiser from out of the area can be a mistake as the appraiser may not have the experience necessary working in your neighborhood or market area. You want to make sure any appraiser you hire is familiar with your market area so don’t hesitate to ask them additional qualifying questions that can help ensure they are familiar with the area, are up to speed on current market conditions and are continually appraising other properties in your area.

4. Do You Have a Home Office or A Commercial Office Space?

Whether an appraiser works out of their home or from a commercial office should not play a major role in your decision with whom to hire. It is typical for most qualified appraisers to work from a home office.

5. Have You Ever Been Disciplined by any Agency?

You need to ask this question in order to find out if the appraiser has a disciplinary record. If they have been disciplined, it means they may have cut corners in the past or done something wrong. You should always be wary of hiring an appraiser with a disciplinary record. If you decide to move forward in hiring a previously sanctioned appraiser then at a minimum you should check to make sure their license is active.

6. How Many Years Have You Been Appraising?

Experience and knowledge should typically be your top concerns when hiring an appraiser and working through the appraisal process. Most standard and non-complex properties can typically be sufficiently serviced by appraisers with at least about 5 years of experience.  Properties that are more difficult or complex should be serviced by appraisers with at least 10 years of experience.

7. Are You A Full-Time Appraiser?

 

The appraisal process requires dedication and commitment. In order to get the most credible appraisal report possible, you normally should only hire a full time appraiser as they’re more likely to be up to speed of continually changing market trends and up to date of the most recent trends and guidelines in the appraisal industry.

8. Are You a Licensed or Certified Level Appraiser?

“Licensed” and “Certified” are the two types of state issued residential appraisal licenses other than the “Trainee” license. Licensed appraisers are not allowed to appraise homes valued over $1,000,000 and are not allowed to perform FHA appraisals for lending purposes. However, Certified appraisers can appraise homes up to any value and usually have more experience, training, and education as compared to a Licensed level appraiser. Certified level appraisers are also typically more qualified to handle more difficult or complex properties, as well as FHA and VA appraisals for lending purposes.

9. Are You A Member of the Local Multiple Listing Service (MLS)?

Local MLS databases provide invaluable information for the majority of homes/properties that have recently sold or that are currently listed for sale within your market area. If the appraiser you’re considering doesn’t have access to the YOUR local MLS, you should immediately search for another appraiser.

 

10. Have You Ever Appraised Properties similar to Mine within my Neighborhood?

You should only hire an appraiser who is experienced appraising your specific property type and who regularly works within your market area to insure you’re receiving the most accurate appraisal possible. Also, don’t hire someone based strictly on price as it could end up costing you a lot more in the long run.

I hope you found this helpful and if you have any additional questions, thoughts, or comments please leave them down below. For any additional questions or help regarding anything in the world of appraisal please contact us directly by phone or email. We look forward to serving you!

California Home Appraisals specializes in appraisals for divorce, bankruptcy, estate, date of death, tax appeals, pre-listings, and more throughout the greater Sacramento, Roseville, Rocklin & Lincoln areas. For more info contact us at (916) 521-5949, visit our website at CalHomeAppraisals.com, or email us @ gary@calhomeappraisals.com.

 

 

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