Real estate appraisers provide invaluable services for home buyers and sellers, as well as work with real estate professionals, such as agents, investors, landlords, and others. Lending institutions also depend on appraisal reports when qualifying loans.
Commercial property mortgage brokers, borrowers, sellers, and lenders have a vested interest in accurate appraisals for their real estate transactions. Every larger town usually has several local appraisal firms that offer commercial property appraisal services. But finding a top-rated real estate appraiser has typically been a challenge.
As another example, when a property valuation is needed to settle an estate, the appraiser must have both the training and the experience necessary for an accurate valuation. Otherwise, the inequitable distribution of assets among the heirs can lead to disputes that can threaten family relationships for years to come.
Through thorough research of U.S. appraisal companies, RealEstateBees.com has solved the problem of finding an experienced and professional property appraiser. Our online directory can help you find the best appraiser in your area for your specific needs. Use our top 10 list of residential and commercial property appraisers to choose a professional that you can trust.
Frequently Asked Questions
What is a property appraiser responsible for?
A licensed property appraiser is responsible for determining the current value of a property. The appraiser works on behalf of the lender when preparing a house appraisal for an initial mortgage or a home appraisal for a refinance. Owners who want to sell residential or commercial property frequently hire professional real estate appraisers to help establish the asking price. And buyers who don’t want to overpay for a piece of real estate will often trust their offer to an appraiser’s assessment.
An independent real estate appraiser is responsible for calculating an unbiased value of a commercial property based on income potential as well as its actual value. Farmland, for example, is valued in part by the amount of crops it will produce. Rental property, such as an apartment building, is valued in part by rental income.
The appraiser is also responsible for identifying (and valuing) any potential problems with the real estate, such as the poor-quality anchoring of a mobile or manufactured home, or the settled foundation of a house. However, appraisers don’t provide you with a detailed report of all problems with your property. For this purpose you need a property inspector.