What Does a Certified Residential Appraiser Do?

HomeBlogWhat Does a Certified Residential Appraiser Do?

When you buy or sell a home, one of the professionals who will be involved in this process is a certified residential appraiser. In most cases, a home appraiser will be scheduled by your lender prior to when you close on your home. You can also schedule a certified residential appraiser to come out to your home and estimate its value at any point after you own your home.

What Does a Certified Residential Appraiser Do?

At the end of the appraisal process, the appraiser will compile a report that you and your lender will receive, typically within a week following the appraisal. If the estimated value of the home and the purchase price are within the same range, your real estate sale can then proceed. If not, you or the prospective buyer will need to resume negotiations on the selling price of the home.

When a certified residential appraiser looks at a home, they analyze the exterior and interior of the property. Unlike a home inspector, however, they are not looking for structural, plumbing, mechanical, or electrical issues with the home. Instead, they are looking at factors like the home’s square footage, lot size, and number of bedrooms and bathrooms. They may also pay attention to more subjective elements, such as the home’s curb appeal and how well the home has been maintained.

A home appraisal is an important part of the home buying or selling process. For more information about what happens during an appraisal or to schedule a home appraisal, contact us at Simpson Real Estate Appraisals today.