When buying or selling a home or any other property, make sure that the property is valued accurately, and it is in proper condition. To do so, a potential property seller and buyer hire an inspector and a real estate appraiser in Virginia Beach to examine the condition of the property and determine its value.

Professional appraisers' value calculations are always based on prescribed methods of evaluation, research, and report writing. Following are some crucial things that you should know before hiring any appraiser to determine whether he or she has required knowledge and expertise to calculate value fairly and accurately.

Qualification of Property Appraiser

A qualified real estate appraiser has formal education in appraisal procedure, principle, theories, law, and ethics. Therefore, appraiser should be familiar with the latest appraisal standards. Additionally, he or she should be familiar with the type of property needs to be appraised and should know how to determine accurate value.

Never hire a Virginia Beach Property Appraiser without appraisal training. If appraiser has not received any training, there is no way he or she can understand the complicated variety of marketplace definitions that play vital role in determining value of appropriate uses.

Do all appraisers have similar qualifications? No, they do not. It is imperative to ask the prospective appraiser about the type of formal appraisal education training he or she has received. It is highly advisable to obtain a copy of appraiser's professional profile or resume evaluating his or her credentials.

Membership to an Appraisal Society

Does he or she belong to an appraisal society that tests its members? There are many appraisal organizations that provide courses and take tests before admitted them as "accredited" members such as the Appraisal Institute.

Membership in an appraisal association shows that the appraiser is very much involved with the profession, has access to updated information, and is familiar with the code of ethics and conduct.

Handling Items outside Specialty Area

How well the prospective appraiser handles items, which may be outside his specialty area, is also important. No appraiser should claim expertise in everything. A good, Norfolk VA Realtor appraiser knows his limit, and open to consult with other experts when required.

Appraisal Fee Or Charges

Never hire an appraiser who charges a percentage of the appraised value or "contingency fee." Such practices conflicts during the process and may result in biased values.

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