I had this question on a real estate website yesterday, and I was thinking to myself, does the owner of the property really want the appraiser, who works for the bank or financial institution telling them what the value of their property is, and in what condition as compared to others around the area?
Appraisers get paid by a 3rd party at the behest of the bank, so you end up paying for them at some stop on the merry-go-round. However, appraisers pull in comps from just about anywhere, pulling in raw data, not caring if you renovated your house and have a newer kitchen, newer appliances, newer baths and bedrooms.
Don't get me wrong, I have some very good friends who are appraisers. I appreciate what they do, but they get paid by the bank. I can take them comparables that I think are good for the house, but they don't have to use them, after all, they are licensed as well by the State, and they have a code of ethics to follow as well.
Liz
No comments:
Post a Comment