The Importance of a Professional Appraisal
The reasons appraisals are needed vary greatly. Appraisals are performed by State Licensed Qualified Appraisers that are bound by USPAP (The Uniform Standards of Professional Appraisal Practice) with the knowledge and experience to form a credible and reliable Opinion of Value.
Appraisals aid Financial Institutions in making better informed decisions on lending as well as their use by property owners to settle, plan, and execute important transactions concerning the sale, purchase, distribution, and ownership of residential property.
A home is likely the biggest asset most individuals will possess in their lives. The importance of obtaining and using an Appraisal prepared by a qualified Professional Appraiser in guiding them through what can be confusing and daunting decisions is invaluable.
There are several newer data-based technologies that have surfaced which utilize mined data (some accurate and some not) in efforts to obtain credible property valuations, however nothing can take the place of a real person going to a property and gathering the data needed first hand to create a proper valuation.
A professionally prepared Appraisal by a qualified Appraiser is a much stronger instrument that is unanimously accepted in property based legal proceedings and transactions.
Using professionally prepared Appraisals will save you and your clients unnecessary grief down the line and make for a much smoother assignment and a happier client.
Atlantic Coast Appraisal Services, L.L.C. Phone: 609-296-4542 Fax: 609-296-3860