Reasons to Get an Appraisal

This is the primary reason to order an appraisal.  Whether you're buying a home, refinancing, modifying a loan, getting a Home Equity Line of Credit or removing mortgage insurance, you will need a home.  However, your lender will have their own approved appraisers, so there's no need for you, as a homeowner or buyer, to order an appraisal.

Don't want to pay high real estate commissions?  We get it!  However, make sure you're pricing your home correctly!  Far to often when appraising FSBOs the appraisal comes in notably higher than the sale price.  Sure they saved thousands by not using a real estate agent, but they also gave away thousands by not pricing their home correctly.   

Maybe you're buying a home in cash.  Since there's no financing involved from a bank, and thus no appraisal needed, it's still probably a good idea to make sure you're not overpaying.

Obtain an appraisal to determine the value of your home for a fair division of assets.

An appraisal is needed for the decreased's final tax return.  Often this appraisal is also used to equally divide the equity in the home between family members.