Oil  City  Appraisals

What is an Appraisal and why do I need it?

An Appraisal is something that an Lending institution woudl need for a loan, a home owner would need to buy or sell a home or an Attorney would need for an Estate declaration. 

Once ordered, a Certified Appraiser would inspect the home, land, building or business, which would typically include measuring, notating what the appraiser thinks is important and then starts finding similar properties that have recently sold to get a comparable price amount.  The appraiser would then adjust up or down for any differences and will eventually come to a conclusion on what the value is. This is definately the simple version of all what goes into an appraisal, but short version is best for explanation. 

Everyone will need an appraisal at some point but finding the right real estate appraiser is something that is worthy of making sure you know who you are dealing with. The banks will dictate who they have seen their work and are comfortable with them giving values so they have put them on "their list" after a lengthy evaluation. Choosing a weak, or inexperienced appraiser can leave you with a low value that can ruin a sale, a refinance or what you are using for collateral. 


If you have questions, an appraiser should easily be able to explain where they got their values, why they chose those comparables and how they arrived at that number.   

Oil City Appraisals

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