When you buy a home, you always need a comprehensive appraisal report for the bank, prepared by an independent appraiser. By independent, we mean that the appraiser should never work at the office of the selling or buying real estate agent. The reason for this is that otherwise there may be a conflict of interest. And that, by definition, makes the appraiser's valuation unreliable for the bank.
The bank places a lot of value on this independent appraisal because they base how much mortgage they can grant on a home on this. Basically, you will never receive a higher mortgage than the appraised value of a home (loan to value). So a good appraisal is a big deal in the process of buying.
An appraisal is not just an out-of-the-blue value. In fact, an appraiser can lose his or her license to appraise if the report is not based on a solidly substantiated value.
Over the years, we have learned that we like to focus on the brokerage itself. Therefore, we always have appraisals performed by appraisers from our network. These are all appraisers who exclusively appraise. Because of years of working with these appraisers, we have very short lines of communication with them. This way we can always move quickly and we know for sure that the appraisal is performed by a party we trust.
Do you need an appraisal report? We'll make sure we connect you with an appraiser we trust today.