If you are looking to get the highest real estate appraisal for your home, then there are three very specific questions that you should be asking potential property appraisers before you hire them.
Ask a potential appraiser the following three vital questions:
Do you have a commercial office location, or do you work out of your residence?
In today's work environment there isn't anything inherently wrong with working out of a home office. While you should not automatically discount those appraisers who have a small business, sometimes when it comes to real estate appraisal it is better to hire an appraiser who spends time in an office working around other professionals in their industry. This regular interaction shows you that your appraiser will likely be more knowledgeable when performing their job than those who do not have this interaction opportunity.
What is the distance, in miles, between my house and the last three appraisals you have completed?
Property appraisers are often heard using the term "geographic competency" when it comes to describing how accurate an appraisal is likely to be based on how many other appraisals an appraiser has completed in that specific geographic area.
In a perfect world you would like to hire an appraiser who has an average of no more than 10 miles if you live in a populated area, and 25 if you live in a more rural area, between your home and the last three homes they have appraised. This shows you that the appraiser, like Appraisal Office Aspen Ltd, has proven that they have geographic competency in your neighborhood.
Are you either certified or licensed in our state?
Each state has different rules and regulations that govern the real estate appraisal process. Make sure that if your potential appraiser claims they are licensed or certified that you obtain their certification numbers and check them out with the issuing agency. Additionally, take a quick look online and find out exactly what the licensing rules are in your area. Your real estate agent will also be able to share this information with you.
Hiring a real estate appraiser is always a stressful task. However, you can make the best decision about who you should hire by asking each candidate the three questions listed above and ranking their answers against each other. By hiring a licensed, certified, geographically competent appraiser who works out of a professional office you can ensure that you will get the most accurate real estate appraisal possible.