Who all need property appraisers in New York?
As New York property appraisers, we most frequently are contacted by three major groups. These are:
i. Lenders and Financing Agents: Lenders and financing agents contact property appraisers in New York for appraising properties against which they need to issue a loan. Basically, the amount of loan issued is in proportion to the property’s value estimates, as figured out by the property appraisers in New York. Thus, the loan amount depends upon the appraisal report.
ii. Sellers: Often, before putting up their properties for sale, prospective sellers contact property appraisers in New York. The purpose is to ascertain the current market value. With this approximation in place, home owners are able to work out an asking price for their estate.
iii. Attorneys and Executors: When the owner of an estate dies, his property and other assets are divided and the division and transfer proceedings are referred to as probate. During probate and other instances, where property is to be divided amongst a number of people, say divorce, the attorney or executors require property appraisers in New York. In such cases, property appraisers in New York work out the market value of the property and thus enable fair division.
In all the stated cases appraisal needs are same i.e. property’s market value is required. However, depending upon the data available and needs, property appraisers in New York pick a suitable appraisal technique. The report prepared is a comprehensive one, which not only states the calculated value of the estate, but also sheds light on facets which led to the conclusion. If desired, additional details can be sought and as New York property appraisers, we’d be more than happy to assist!