Consumption and Real Estate
Should a home inspector be able to give me a good idea of the home’s value, or do I need an appraiser?
Question : Should a home inspector be able to give me a good idea of the home’s value, or do I need an appraiser?
Possibly problematic: it’s not very easy to guess at a reasonable price — it’s in a tiny and rather unique town, in a unique location; older home, pretty far from a newishly-built thing in a suburb comparable to other suburbs. Finding stuff to compare it to is not easy.
Can the home inspector be relied upon to give us an idea, or should I hire a separate real estate appraiser?
(And, what — roughly — might I expect a real estate appraisal to cost?)
How much influence do professional appraisals tend to have on the final price, too?
professional home inspector
Best answer:
Answer by LadyDeathStryke
An appraiser will give you a more accurate figure than an inspector. Their rates are about $ 200-400. Your realtor can also give you a price based on what other homes in your area with similar features sold for.
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#2 written by Wismom 1 year ago
Hi
No an home inspector is not qualified to decide that. Just the same an Appraiser cant do a good home inspection either.
Plan on an appraiser costing 200-500 depending on where you live.
Make sure you get a Good one and not one that the sellers realtor suggests.
A home inspection can affect the final price After an appraisers evaluation, by finding problems.. but the pricing begins witht he appraiser.
For the buyer the Home inspector is MORE important to protect your investment.
However….. If you are getting any kind of financing through any bank in the USA you wil HAVE to have the house appraised.. its the law.
If you are going to do a home inspection then I suggest you do that first before the appraiser.. so if they find something that would make you not want to buy the home then you are not out the cost for the appraiser..
Before you do the inspection though
Ask when or if the home was ever inspected and if so when and ask to see the report..
Once a home has been insepcted those reports must be made available and go with the house forever.Good Luck
Wismom
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#3 written by tonevault 1 year ago
Definitely have it appraised by an appraiser. An inspector isn’t in the business of appraising, and I’d be surprised if any would even offer a guess.
If you are getting a loan on the property, your lender will most likely insist upon an appraisal by a licensed appraiser, and they’ll probably need to have a copy of his/her license.
Appraisers don’t have any influence on the price EXCEPT:
If the purchase agreement is at (say) $ 250,000, and the appraisal comes in at $ 225,000, your lender will probably only loan on the smaller amount. Of course, if there are upgrades and/or overlooked amenities, the appraisal can be adjusted accordingly. It’s highly illegal, however, to falsely “pad” an appraisal. Appraisals run $ 300-$ 400, at least around here, in CA.
Good luck! http://www.gregernsthomes.com
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While an appraiser will run you anywhere from $ 250 to $ 400–that will not tell you what the house will sell for. If you buy this home with a mortgage, the bank will ask you to pay for an appraisal at the time you make mortgage application. Why don’t you get a local Realtor to provide you with a free market analysis of the home–They may have to look at average price per square foot if similar homes not available to compare–also factor in age of house. New homes may be getting more/less per square foot in your area. If an appraiser values the home at less than contract purchase price–the seller must either reduce the price or convince the appraiser via research that the property is worth what he is asking.
Hope this helps