How To Choose A Chicago Home Appraiser

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How To Choose A Chicago Home Appraiser

On May 24, 2016, Posted by , in Business, With No Comments

If you are starting the process of selling a property, one of the first things you need to do is find out the fair market value of the property. This is absolutely essential to make sure that you do not over or under price the property in the initial marketing process. It is also vital to make sure that you have the right expectations about what can be achieved given the local real estate market and current demand for similar properties.

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Choosing a home appraiser is very important at this stage of the process as it is the foundation of all the marketing and selling processes that follow. The following are the most important factors to take into consideration.

Area Of Service

The property appraiser that you choose has to be extremely knowledgeable of the local property market. There is no advantage to hiring an appraiser from Bloomington when the property you want to sell is in Chicago. Local knowledge about what similar homes sell for, and what the neighborhood selling points are is one of the biggest factors that can influence a house price.

Experience

Make sure you hire a real estate appraiser that has at least 10 years’ experience in the Chicago area. It is also important that the person who will actually call to view the property for appraisal has that experience. Many real estate companies advertise their decades of experience, but when it comes to the actual appraisal, they will send out a junior agent. If you are paying top dollar for an experienced appraiser, then you should demand the same person to be doing the work. Look at ChicagolandAppraiser.com for more info.

References

Wherever possible you should ask for references or check with family and friends whether anyone has experience with the company. Ideally you should try and contact 5 people that have dealt with the appraiser and ask them questions about how accurate the appraisal was versus the actual selling price and how easy the person was to deal with for follow up and clarifying questions.

Qualifications

value-of-a-homeThere are many ways for real estate professionals to become qualified appraisers. Some go through extensive college bachelors and masters programs, while others opt for the industry certifications. Before you choose an appraiser you should ask for the qualifications of the person doing the appraisal. Such certifications are commonly displayed on office walls and absence of them should sound alarm bells. If they are not publicly displayed then ask to see them.

Fees

This is a topic that was left until last as the fee being charged should not be the driving factor. Spending $100 more than the average fee can pay off if the actual appraisal is more accurate and realistic and the service is professional.

While there may be some companies that charge significantly less than others, you should be aware that a lot of time and effort goes into a proper appraisal. If you go for the rock bottom price then that person will be encouraged to spend as little time as possible reducing the level of service and accuracy.

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