Appraisals are certainly good investments in certain cases. Here are some examples:
Property Sale / Purchase - While answering to the questions “Am I asking enough?” or “Am I paying too much?”, an appraisal is essential for anyone buying or selling property, an appraisal is essential for making an informed decision.
Mortgage or Lending Purposes - When acquiring a first or second mortgage or when a property is used as collateral for a loan, an appraisal is necessary to obtain financing.
Relocation - Relocated employees by their employers are often offered relocation packages to protect their investment when relocating from one city to another. An appraisal is the best way to ensure this.
Estate Planning - When wealth changes from one generation to another, an appraisal serves as an objective basis for the division of assets and/or the determination of capital gains tax.
Legal Disputes / Dissolution of Marriages - When real estate is the subject of a legal dispute or in cases where marriages are dissolved, an appraisal serves as an impartial way of estimating property value.
Taxes / Capital Gains - The value of property can increase substantially over time and may become subject to taxation or capital gains. A professionally prepared appraisal is
recognized as the best estimation of value for taxation purposes. Accountants often rely on real estate appraisals for taxation purposes.
Professional Advice - There’s no better way to find out the actual value of your property than by obtaining an independent opinion of value by a professionally recognized appraiser.
Talk to Appraisal Master today if you are considering an appraisal for any of these purposes.
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