Reliable Valuation Services

When a Houston property appraiser evaluates a home lower than the buyer is anticipating, it can throw the process of the sale or refinance into chaos. There are some options a buyer has to try to mitigate the damage that can be done when there is a difference between the selling price and the value assessed by a professional appraiser. 5 Tips on How to Handle a Low Appraisal Value 1. Check for Mistakes Everyone makes mistakes, even the best appraisers in the business. If things seem off and the numbers do not seem to add up, the first step is to comb over the appraiser’s report to see if any mistakes were made. Sellers will need to request a copy of the detailed report, which the lender is obligated to send within 30 days of the request. If an appraiser missed some upgrades or improvements inside or outside the home, it could lead to significant changes in the final totals. 2. Challenge Appraisal with ‘Reconsiderations of Value’ If there are no glaring mistakes, and the...

Negotiating a selling price when buying a home can be a stressful process of haggling with the seller until you can come to an agreed-upon price. Homebuyers purchasing the home through a mortgage with a home lending company must also get a professional San Antonio appraisal for a third party, unbiased valuation of the property. Existing homeowners also use home appraisal when they wish to refinance a home or when taking out a home equity loan. What is a Home Appraisal? A home appraisal is used to evaluate the house and the property to provide an unbiased estimate on the home’s resale value. A professional, licensed appraiser performing a San Antonio appraisal will be looking for and inspecting these elements of the home: ●      Location of the property ●      Structural condition of the home ●      Additions and renovations that have been performed on the home ●      Comparable sales in th...