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The Significant Role of Appraisers of Property

May 7, 2008
If you are about to sell your property, then the valuator of the property can make or break the deal. Any one who values his house will value it at the highest and it generally becomes very difficult to find a buyer who will be ready to buy the house at the value that owner has determined. Generally the house sells at a price that is much lower than the value of appraisal.

Appraisals are very subjective; there is no one strict rule that is followed during appraisal. Generally the valuator compares the house in question with other houses that are of the same size and that have the similar amenities. Although no two houses can have the exactly same features, yet the valuators try and compare houses that can be said to be similar. Another factor that plays a big role in deciding the value of the house is the location. A house can greatly increase its value if it is located in a posh locality.

The next task that the valuator has to do is to calculate the value of the house after making adjustments of the amenities that are added by you. These amenities are generally graded by the appraiser as in excellent, moderate and poor. These valuations are also highly subjective as there is no one true way of finding out the condition of the amenities. Also this depends on the taste ad the experience of the appraiser and also on his personal judgment. Generally more experienced valuators are more accurate and less prejudiced when making the valuations.

You can influence the appraisal process by being physically present at the time of appraisal. This way you can provide valuable inputs when the appraiser needs them. For example you can draw the attention of the valuator at the newly laid tiles or a new piece of furniture that you may have just purchased.

You can also check out the similar houses that the valuator may have investigated. This will give you a better idea as to how to value your own property. You can also bring to the notice of the valuator the worth of different blocks, which the valuator may have forgotten. You can also have a real estate agent present at the time of valuation. Doing this will be highly beneficial as they have close contacts with the valuators and also have a sound knowledge of the values of property.

Appraisal of your property is very important for its sale. It is highly recommended that you are present at the time of evaluation as this way you can provide valuable inputs to the appraiser and ensure that your house is valued at its fair price.
About the Author
William King is the director of Dubai Property & UAE Property & Dubai Real Estate Portal, Pakistan Property & Pakistan Real Estate Properties Portal and Wholesale Dropshippers & Wholesalers Dropshipping Product Suppliers Directory . He has 18 years of experience in the marketing and trading industries and has been helping retailers and startups with their product sourcing, promotion, marketing and supply chain requirements.
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