Real Estate Appraisers in Pasadena Texas

Yes! Regulations allow real estate agents, or other persons with an interest in the real estate transaction, to communicate with the appraiser and provide additional property information, including a copy of the sales contract. No party, whether involved in the transaction or not, may attempt to influence the appraiser’s opinion of value.

The two services are quite different in scope and level of research. CMA’s usually contain a few recently sold and active comparable properties, and rely heavily on their prices. While appraisals also us comparable properties, the level of research placed into each property and subsequent adjustments are much more in depth than a CMA. An appraisal report will consider land values, cost approaches and income approaches in the case of rentals. For determining a reasonable range or “ball park” value, CMAs are great. But if you need a more exact and likely accurate value, then you’ll need an appraisal. The most influential of all these factors is the person creating the report. Real estate agents write CMA’s, and they don’t always know the whole market or bear specific competence when it comes to home valuation. Unlike agents, an appraiser must possess explicit market area knowledge when performing an appraisal. Realtors are also tempted to indicate a property value that they feel meets the homeowners expectations in order to secure a listing. Appraiser’s have no interest in the value of the property since they are paid a flat fee.

An appraisal accounts for all the data that influence real estate value and forms a more credible picture of a property’s value. An appraisal is prepared as a result of a set fee which cannot be based on the outcome of the appraisal, or the property value. Only a state licensed appraiser can provide a certified appraisal. A broker price opinion estimates the value of a property and is performed by a real estate broker or agent. Ultimately, the motivation behind the report is the largest difference between a BPO and an appraisal. Brokers may earn a commission from a property sale that was made through a BPO contact; appraisers cannot be compensated for any outcome of the sale of a property. Although most brokers and agents are honest some might tell you what they think you want to hear. The appraiser is just interested in completing the assignment and getting paid. Their only concern is to deliver a fair, accurate and objective appraisal.