Real Estate Appraisers/Appraisals forum

11 Replies

Is there a Real Estate Appraisers/Appraisals forum similar to The Real Estate Agents, etc.? I could not find one (may have overlooked it) and surely thought there would be one.  Thank you 

Originally posted by @Alex Olmo :

There's a national appraisal coalition on Facebook. As an appraiser, can I help with anything?

Hi Alex! I'm about to purchase my first property to flip and I was wondering if I could work with an appraiser to determine the value of the property "As-Is", evaluate repairs to be done and add-value of those repairs to estimate an after repair value of the property. Have you done that with investors and do you know anyone in Broward County, FL, that offers this service?

Originally posted by @David Sicherman :

no one uses appraisers except for Banks.  

Thanks for responding David. I'm not a seasoned investor, still on track to buy my first fix & flip. I know there are brokerages that use appraisers before listing a property. Anyway, I was wondering if any investor has ever worked with them and why is it that so many times properties don't appraise. I was looking at a fix & flip here in Hollywood, FL, where the investor listed the house for 320k and ended up selling it for $270... The investor got it wrong... the agent got it wrong... I don't know... Could an appraiser help them avoid this kind of mistakes? Just a thought... 

9 out of 10 times we are just cussing at Appraisers because they eval'd the place too low for our buyer on the flip side to get the mortgage.  They aren't anything you want to go buy off of.    

Learn the numbers yourself, goto local real estate meetings and find an investor that knows the area.  Some realtors can help, but between all the free tools and education out there, do it yourself.

We do this for investors.  Some investors want to have support to present an appraiser.  The cost may add up with numerous assignments.

(determine the value of the property "As-Is", evaluate repairs to be done and add-value of those repairs to estimate an after repair value)

Good luck!

This isn't directly related to appraisers, but I'm not sure where to find advice here. I've got a fixer upper with some disgusting carpets. Is it ever worth it to use a carpet cleaning service, or should I just rip it all up and install new carpet/hardwood. I'm looking for a quick turnaround and best value for resale.

@Jeffrey Radcliffe   www. this one is OKAY but not many people have been using it lately.  Facebook has a few groups but most, not all, require you to be an appraiser.  The best group is 100% Real Estate Appraisers.

@Sebastian Wernicke   I've done that before. Not by choice but as a requirement from the hard money lender I used. Just keep in mind that because appraisers are all trained totally differently the after repair value you're going to get on day one is going to be very different than an appraisal done on any other day. One of my properties got a value of $85,000, which I thought was a little low, so I waited four weeks had another appraisal done and it came back $130,000. Nothing was done to the place. So by all means speak with an appraiser but be aware that the financial institution providing you the funding will want to have their own appraisal ordered and won't care at all with the first appraiser says.

@David Sicherman   No one uses appraisers except for banks? I'm sorry but that's a pretty stupid thing to say. Really stupid. Attorneys, people getting a divorce, real estate investors, real estate agents before listings, FSBOs, all get appraisals ordered privately for themselves.

If you're using a lender, for a refinance for instance, your real estate agent's opinion, your opinion, a home inspector’s opinion or anyone else’s opinion of value is completely irrelevant. All that matters is what the appraiser thinks your property is worth. so frankly, if you want to get the highest appraised value, hire an appraiser and ask them 1000 questions about your property.  Ask the appraiser what you should do to get the highest appraised value. And make sure you specifically state that you were looking to get the highest APPRAISED value, not the highest MARKET value. Those are not the same and you want the appraised value!  Appraisers have some pretty strict requirements to follow in order to arrive at an opinion of value. The free market doesn't really have any requirements and will therefore provide a different answer/opinion of value.