Why get an Appraisal ?
The most common reason for ordering an appraisal is to obtain a loan on a property.
However, there are several other reasons why an appraisal might be needed. Below
are just a few:
- to establish the replacement cost (insurance purposes).
- to contest high property taxes.
- to settle a divorce.
- to settle an estate.
- to use as a negotiation tool (in real estate transactions).
- to determine a reasonable price when selling real estate.
- to protect your rights in an eminent domain case.
- because a government agency requires it.