Reasons for Appraisals
There are many reasons to obtain an appraisal. The most common reason is for a real estate or mortgage transaction, but we have compiled a list of other reasons you may need to order an appraisal.
- To obtain a loan
- To lower your tax burden
- To establish the replacement cost for insurance
- To contest high property taxes
- To settle an estate
- To help you make one of the largest financial decisions in your life
- To provide a negotiating tool when purchasing real estate
- To determine a reasonable price when selling real estate
- To protect your rights in a condemnation case
- To allow you to obtain a qualified appraisal report
- To satisfy a government agency requirement such as the IRS
- To use in a lawsuit
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Real estate appraisal, property valuation or land valuation is the process of valuing real property. The value usually sought is the property's Market Value....
There are many reasons to obtain an appraisal. The most common reason is for a real estate or mortgage transaction, but we have compiled a list of other...