How to Get the Home Value Assessed for an Estate

An appraiser will provide an unbiased opinion of the property's value, which is essential for executors. Here's a step-by-step guide on how to find, hire, and work with a home appraiser:

Step 1: Understand State Law Requirements

Each state has its own set of laws and regulations governing the appraisal industry. In most states, appraisers must be licensed or certified by the state's appraisal board or agency. For example, in California, appraisers must be licensed by the Bureau of Real Estate Appraisers (BREA), while in Texas, they must be certified by the Texas Appraiser Licensing and Certification Board (TALCB).

Step 2: Find Qualified Appraisers

Once you know the requirements in your state, you can start searching for qualified appraisers. Here are some ways to find them:

• Check online directories like the Appraisal Institute or the National Association of Realtors
• Search for appraisers in your area on websites like Angie's List or Google

Make sure to verify that the appraiser you're considering is licensed or certified in your state.

Step 3: Interview Potential Appraisers

Before hiring an appraiser, it's a good idea to interview them. Here are some questions you may want to ask:

• How long have you been appraising homes in this area?
• What type of properties do you typically appraise?
• Can you provide references from past clients?
• How long will the appraisal process take?
• What is your fee structure?

This will help you gauge their experience and ensure a good fit for your needs.

Step 4: Hire the Appraiser

Once you've chosen an appraiser, you'll need to hire them formally. This typically involves signing an engagement letter or contract that outlines the scope of work, fees, and any other terms and conditions.

Step 5: Provide Access and Information

To complete the appraisal, the appraiser will need access to your property. They may also request additional information, such as:

• Recent comparable sales in the area
• Details about any renovations or upgrades
• Property tax records
• HOA fees or other applicable documents

Provide all requested information promptly to ensure an accurate and timely appraisal.

Step 6: Review the Appraisal Report

Once the appraiser has completed their evaluation, they will provide you with a written appraisal report. Review it carefully to ensure it accurately reflects the property's condition and includes all relevant information. If you have any concerns or questions, don't hesitate to discuss them with the appraiser.

Conclusion

By following these steps, you can find a qualified, experienced appraiser who can provide an accurate and unbiased assessment of your property's value. This is a crucial step in the home estate valuation process, so take the time to do it right.