How to Select a Home Appraiser
- The selection of a real estate appraiser is an important decision. The experience and competency of a real estate appraiser is an important factor. Ask the following questions to help you in your appraiser selection.
Questions to ask the Appraiser
Appraiser's Name: Contact Information: Click here to go to the PDF of this page. Print a few copies and have one for each appraiser you speak with.
Make notes for each appraiser you speak with, then decide which one will be the best.
More Questions for the Appraiser
#1) What is your name and telephone number? Are you licensed in this State?
Simple straightforward and you'll need to write this down for future reference. A key question to ask, prior to hiring an appraiser, is whether or not he or she is licensed. Also find out what type of
license the appraiser has.
#2) Do you have experience with my type of property?
Professional appraisers value property with independence and objectivity. Look for an appraiser who has experience in appraising properties similar to the property you want appraised. Ask the
appraiser is he has appraised houses similar to yours. An experienced appraiser will say yes, if the appraiser says no keep asking questions or find a new appraiser.
#3) Do you have experience in my community?
Though an experienced appraiser should theoretically be able to appraise property anywhere, if he has the proper market data sources and is familiar with your community, his or her job will be
easier and potentially more accurate
#4) How long have you been a licensed appraiser?
We suggest using appraisers with at least 5 years experience but prefer over 10 years.
#5) Can I have a copy of your resume?
Check references and the appraiser's experience.
#6) What market data sources do you use?
This question is important! Deriving an accurate market value for your property is not simply based on the appraisers experience and knowledge. It's also based on his market data, that is
the sources he uses to come up with 'comps' that is comparable sales. A good appraiser will have n-house at least two data sources...one from public records and the other from MLS (Mulitple
Listing Service). The latter is what real estate agents utilize, and serve as a necessary 'cross reference' to the standard public records information. If the appraiser says he 'doesn't need'
another source beyond public records (such as MLS), we suggest using another appraiser!