How to Choose the Right Appraiser for Your Home

When it comes to valuing your most valuable asset, your home, it's crucial to choose the right appraiser. A professional and knowledgeable appraiser can provide an accurate assessment of your property's value, which is essential for various purposes such as selling, refinancing, or estate planning. So, how do you go about selecting the right appraiser for your home? Here are some tips to help you make the right choice.

Top Questions to Ask an Appraiser

-Are you currently licensed or certified in this state? Verify their status through the state appraisal board to ensure they are authorized for your property type.

-How familiar are you with this specific neighborhood? Geographic competence is critical; even expert appraisers can be inaccurate if they don't know local market nuances.

-Have you appraised similar properties recently? Experience with your specific property type (e.g., waterfront, historic, or commercial) is as important as total years in the field.

-How do you determine your fees? Fees should be flat rates or hourly. Avoid any appraiser who charges a percentage of the property’s value, as this is a conflict of interest and is often rejected by the IRS.

-What is your estimated timeline for completion? Confirm how long the on-site inspection takes and when you will receive the final written report.

-Will you be performing the appraisal yourself? Ensure you are hiring the expert you interviewed, not an unsupervised trainee or assistant.

-What data sources do you use beyond the MLS? A high-quality appraisal utilizes local databases, tax records, and private sale verifications.

-Can you provide professional references? Reputable appraisers should provide testimonials or references from previous clients or industry partners.

-What information do you need from me to start? Be ready to provide floor plans, lists of recent upgrades, or income statements for commercial properties to expedite the process. Choosing the right appraiser for your home is crucial to ensure an accurate valuation. By considering factors such as experience, certification, specialization, references, and fees, you can make an informed decision and have confidence in the appraisal process. Smilon Appraisals, LLC, with their 22 years of experience and expertise in residential property appraisals, can be a reliable choice for your appraisal needs.