RESEARCH & LEARN

Reasons for an Appraisal


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TERMINOLOGY

There are many reasons to obtain an appraisal. The most common reason is for a real estate or mortgage transaction, but we have compiled a list of other reasons you may need to order an appraisal.
  • To obtain a loan
  • To lower your tax burden
  • To establish the replacement cost for insurance
  • To contest high property taxes
  • To settle an estate
  • To help you make one of the largest financial decisions in your life
  • 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
  • To allow you to obtain a qualified appraisal report
  • To satisfy a government agency requirement such as the IRS
  • To use in a lawsuit