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 would a person need a Home Appraisal?

April 26, 2017appraisal Home person

0

Posted

Why would a person need a Home Appraisal?

1 Answer

0

Posted

There are many reasons to obtain an appraisal with the most common reason being real estate and mortgage transactions. Other reasons for ordering an appraisal include: • To obtain a loan. • To lower your tax burden. • To establish the replacement cost of insurance. • To contest high property taxes. • To settle an estate. • To provide a negotiating tool when purchasing real estate. • To determine a reasonable price when selling real estate. • To protect your rights in a condemnation case. • Because a government agency such as the IRS requires it. • If you are involved in a lawsuit.