Be In Control of your Home Appraisal: Deciding Who Appraise's your House Puts You in the Driver's Seat
Ever wonder how banks figure out what your home's worth? Well, it's all about getting it appraised. Now, most folks let the bank handle this part when they're going for a loan. But what if I told you there's a better way? What if you could be the one picking the team that checks out your home? Let's dig into why being in control of this process can give you more options, maybe even save you some money and time.
1. Speedier Service: Waiting around for the bank's timeline can drag things out. Choosing your appraiser usually means a faster process, sometimes even before you step into the bank. Imagine this: You show up at the bank hoping for a loan, things might slow down because the bank has to contact the appraiser, who then contacts you, schedules an inspection, writes a report, and sends it back. On the flip side, if you stroll in with an appraisal already done, you can hit the ground running with the rest of your loan application. Plus, you get more personalized service with direct communication, making sure your property is truly understood.
2. Local Know-How: Picking your own appraiser often means grabbing someone who knows your neighborhood like the back of their hand. Sometimes, the appraisers the bank hires might not know the area too well. But independent appraisers often focus on specific neighborhoods, catching all the little details that others might miss.
3. Keep Your Money: Letting your bank order the appraisal usually means they hand you the bill. And get this, some banks even charge extra for coordinating the whole thing. They tack on more than what the appraiser charges them! But if you take control, you might actually save some cash. Independent appraisers often offer good deals, and you can shop around to find the best one. Choosing based on both expertise and cost puts you in the driver's seat, saving you money and making sure you get your money's worth.
4. Get the Real Deal: When you let your bank arrange your home appraisal, there might be some strings attached. The appraiser they choose and pay might have some other interests at heart, especially because banks are all about risk assessment. In today's tricky market, this might mean they want the appraiser to play it safe. Going independent means the appraiser is on your team, not the bank's. This often leads to a more honest and down-to-earth evaluation that doesn't put risk assessment on a pedestal.
So, when it comes to figuring out what your home's really worth, why not be the one in charge? Taking control of the appraisal process means you can shop around, maybe save some money, and get a more down-to-earth home value. In a world where choices matter, being the boss of your home appraisal is a savvy move, giving you the confidence to make smart decisions about your property.
GVS Home Appraisals
Your home's worth…. Our firm's Word
NEED AN APPRAISAL? WE CAN HELP!
https://www.gvshomevalue.com/book-appraisal
*The framework of this blog was constructed with OpenAI technology and edited by Dwayne Grantham P.App, CRA, JD.
