Do you know your net worth? We mean, your collective net worth? Not just the value in your bank account, not only the value in your partner’s history, not even your shared 401k or retirement. No. To figure out your net worth, you need to take stock of the totality of your assets and subtract all your debts at the end of the day, and the same logic applies to the property.
Whether you’re looking to buy or sell residential property, you’ll need to take many, many variables into stock to determine the final valuation, and that can feel like a Herculean effort to take on alone. Fortunately, an appraiser can help make those efforts a little more manageable. Read on to learn more about their role in the real estate market and how a residential estate appraiser can help you.
Ostensibly, an appraisal is a review assessing a property’s valuation, often taking many variables into account before coming to a conclusion. The person completing that process is known as an appraiser, who usually has to obtain state-licensed credentials to get to where they’re at. In the case of a residential real estate valuation, that could mean accounting for factors such as:
The appraiser will consider all of these variables and more when making their final decision. Above all else, they must act as a neutral intermediary in the transaction, whether it’s a purchase, sale, or refinancing of a residential property. They must work compliant under regulations and act as objectively, impartially, and unbiased as possible.
Therefore, the buyer, seller, lender, or any party in the process cannot choose the appraiser. They must be appointed by an appraisal management company, or AMC for short. Now, if you’re looking to buy, sell, or refinance in the area, which AMC can you count on to find the best appraiser to please both parties?
Since 1959, our firm has maintained an undying commitment to providing accurate, compliant, and reliable valuation services to clients in the greater Chicago area. Few firms have quite a storied history as ours, and few offer the same depth of extensive services and expertise. We currently have over 50 certified staff appraisers, so both parties can rest assured that we can find one to best suit their particular circumstances.
We vet these circumstances through unwavering quality, unwavering quality control, reasonable local market fees, and a diversified set of expertise. Beyond fundamental valuations, we also handle:
Ready to learn more? Fill out our contact form and place an order to learn how we can help you!
If you have a question or would like to place an order for an Appraisal or Review, please fill out the form below. Once you’ve submitted your order, someone from our office will contact you within 1 business day to confirm your order or answer any questions.