Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Why are real estate appraisals important?

April 26, 2017appraisals Real Estate

0

10 Posted

Why are real estate appraisals important?

1 Answer

0

10 Posted

Because much of an individual’s or corporation s wealth lies in real estate, it is essential to the economic well-being of society that the real value of property is understood. On an individual level, real estate appraisers provide an impartial third party assessment of property value to ensure that real estate buyers do not overpay for property and that lenders do not overlend to buyers.