All property owners need an appraisal at some point during their ownership or before they make a purchase decision. Most need at least one appraisal during the buying and/or negotiating and financing processes. In today’s litigious society, a disinterested third party analysis relating to the value of real estate becomes important as it relates to financing, estate planning, tax appeals including both real estate assessments and IRS reviews, and all types of litigation where real property is involved.
We all know there are many websites where ‘big data’ is used to ‘value’ a property. But sites such as Zillow, Trulia, etc., are no substitute for a ‘boots on the ground’ visit and analysis by a trained State Certified Appraiser who knows the market and has no preconceived bias or ‘idea’ of property value.
With the ongoing concerns about the value of real estate, and what seems to be a shift away from regulations protecting the ‘public trust’, an independent appraisal is paramount in many situations. Having an ‘unbiased’ opinion from a party that is not a stakeholder or an advocate for a ‘high’, ‘low’ or ‘particular’ value, is the best information you could have in any real estate valuation situation. And, considering the high value of much of our area’s real estate, the cost of an appraisal can be the best and most sensible money you ever spend in understanding the value of your property, and in protecting yourself now and for the future.
Reape, Jeffers & Associates is here to assist you, whatever the reason, in any situation where you need an impartial, third party opinion of value.