Residential Property Appraiser

What to look for when selecting an ethical Residential Property Appraiser:

When selecting any residential property appraiser you should select a company that:

1. Shows you their business license before being asked.

2. Shows you a copy of their errors and omissions insurance cover letter.

3. It is import to select an appraiser that resides in the area the appraisal is being done.

4. Many appraisers will provide an appraisal to make a deal work, this is not in the best interest of anyone and may come back to bite you. An ethical appraiser may tell you things that you do not want to hear, but it may protect you down the road.

5. It is important to select an appraiser that is affiliated with appraisal organizations and is tied into the community. For example, it is wise to select an appraiser that lives in the Triangle area if your property is located within the Triangle.

6. Verify and actually call references.

7. It is important to understand that as a consumer you have the right to select any appraiser and you do not have to select the one that the realtor or lending institution recommends. There may be an agenda to get the deal done that may not be in your best interest.

There are thousands of people in the Triangle area that are licensed appraisers, but only a small percent are actively appraising property. It is important to select an appraiser that does not have an agenda and one that is not afraid to state the actual value, even if it means finding a different lender. In most cases you will be very happy down the road.

What to avoid when selecting a business in this industry:

1. A part-time appraiser or an appraiser that only appraises for certain companies. In most cases there is an agenda. Why take that risk?

2. A business that does not show you their errors and omission insurance. If the appraisal is wrong you have no recourse. Why take that chance?

3. An appraiser that is new to the area or is commuting in to do the appraisal. They are not as familiar with the market and the appraisal has a greater chance of being skewed.

4. A long track record is very important in this industry. Please take the time to check the references.

5. You get what you pay for. If you want qualified and insured professional appraising your property, you may need to pay a little more, but in most cases it is money well spent.

6. An appraiser that make guarantees or statements about real estate values that appear too good to be true.

Jackie Gautreau Appraisals, Inc.

Phone (919) 661-1847

Why Jackie Gautreau Appraisals, Inc. was offered the opportunity to be a Business A-List participant?

After meeting many appraisers it was clear there are many lenders that are hiring appraisers to get deals done and trying to make the numbers work. In the long run this will hurt the lender and in many cases the homeowners. It is important to select an ethical appraiser before purchasing or refinancing your home.