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To that end, many appraisers believe that any communication with individuals involved in the transaction including real estate agents is unlawful. However, the Bureau Chief of Californias Bureau of Real Estate Appraisers (BREA) debunked this view in a recent BREA newsletter.
Who normally pays for appraisal buyer or seller?
It has nothing to do with the seller; it is ordered by your lender, and payment is due regardless of the outcome, says Maria Jeantet, a real estate agent with Coldwell Banker CC Properties in Redding, CA. It is typically paid by the buyer unless specifically negotiated ahead of time to be paid by the seller.
What is a seller appraisal?
A home appraisal is an unbiased professional estimate of a homes value. Whether selling or buying a house, getting your home appraised is an important step. It sets a standard for how much you should sell your house for or tells your potential lender the homes value before offering you a mortgage loan.
Do sellers usually lower prices after appraisal?
Do sellers usually lower their asking price if the appraised value is lower? Whether the seller decides to lower their asking price will depend on a number of factors, including how motivated they are to sell or if they have other offers above asking price.
Is the appraisal the last thing before closing?
A home appraisal is usually one of the last steps in the home buying process. Once the buyer has found a home they like and the seller has accepted their offer, then the buyer will need to take out a home loan.
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Why would a seller get an appraisal?
Before selling your house Homeowners considering putting their house on the market can have a pre-listing appraisal conducted to get a better sense of the market value of the home. Doing so can help determine a realistic asking price, increasing the likelihood of a fast sale.
Related links
THINGS TO LOOK FOR IN AN APPRAISAL
▫ SELLERS. ▫ More importantly, in ad valorem tax cases, consider whether there really are any sellers at the appraisers opined value. ▫ If the appraisal
State Certified and Licensed Real Estate Appraisers License
(a) State certified real estate appraiser means a person who develops and communicates real estate appraisal and who holds a current, valid certificate issued
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