What Is an Appraisal?

• Whether it's a primary residence, a second home, or an investment property, purchasing real estate is a multifaceted financial transaction involving various participants, including appraisers. Our role as appraisers is to provide an impartial and objective assessment of a property's value, determining what a typical buyer might be willing to pay.

• In the real estate industry, many professionals are well-acquainted with the transaction process. Realtors assist with buying and selling properties, mortgage companies provide the necessary funding and evaluate loan risks, and title companies ensure a clear transfer of ownership. While these parties have financial stakes in the transaction, the appraiser remains independent and unbiased.

• Given the numerous commission-based roles in a real estate transaction, it's essential to ensure that the property's value aligns with the purchase price. This is where the appraiser plays a crucial role. Appraisers are the only professionals authorized to establish a property's actual value, whereas others, like banks, realtors, or online platforms, can only estimate it.

• An appraisal offers an unbiased estimate of what a buyer might pay or a seller might receive for a property, based on market conditions and informed perspectives. To be considered an "informed party," most people rely on a licensed appraiser for the most accurate valuation.

• It's important to note that appraisers do not set market values; they interpret and report on them. They draw on extensive education and experience, including years of training and apprenticeship, to understand market nuances accurately. 

Call (479) 530-4420 today to schedule an appraisal or to learn more about our services.