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Why get an appraisal?

It is prudent to obtain an appraisal whenever a real estate decision has to be made. For example, a buyer does not want to pay too much, a seller does not want to sell too low, and an investor wants an adequate return on their equity invested in an income property.

But these are not the only reasons to get an appraisal. Other instances when a certified, licensed, independent appraiser may be of assistance include, but are not limited to:

  • obtaining a loan;
  • assist in making investment property decisions;
  • establish the replacement cost of insurance;
  • contest property taxes;
  • settle an estate;
  • provide a negotiating tool when purchasing real estate;
  • determine a reasonable price when selling real estate;
  • protect your rights in a condemnation case;
  • in case a government agency such as the IRS requires one;
  • or if you are involved in a lawsuit.