Appraisal purposes

There are many reasons to obtain an appraisal:

  • To secure a loan
  • Estate or death of owner
  • Inheritance
  • Income taxes
  • Exchange
  • Property tax rebuttal
  • Mortgage insurance removal

Appraisers perform appraisals on many types of property for many purposes.  Above we have listed just a few of the purposes we might perform an appraisal on a property.

Probably the most common purpose of an appraisal is for a real estate loan funded by a bank or savings bank. The bank requires that a licensed individual go to the property, inspect the property, gather comparable sales and write a report about what information was discovered and to compare the sale properties to the properties being appraised, making adjustments, and establishing a value; creating an appraisal.

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