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Thomas Appraising
4.0(
5
)
Appraisal - Real Estate

Serving Wasco, OR and surrounding areas

In business since 2002

Emergency services offered

I can appraise anything that moves or can be moved. I can travel short or long distances,\n I have never been 2nd guessed or questioned on an appraisal. I have been doing appraisals\n for 12yrs. I can appraise at you location or I have done them at auctions or at business locations.\n Everyone that has purchased my services have been very satisfied and have told friends and \n neighbors about me. I do time wise appraisals but thorough, prices for appraisals is based on item or items to be appraised I am very efficient and thorough. I ask for a small % up front (good faith money by the client) and the rest when appraisal is complete and the client is satisfied with the results or payments can be worked out before appraisal is started as agreed to by both parties.\n I am available 24/7 by cell or landline phone or e-mail.

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Property Appraiser questions, answered by experts

The differences between market value and appraised value depend on the local market, so they can match, or either one can be higher than the other. In a “seller’s market,” where there is an abundance of buyers, market value will likely sit higher than the appraised value because there’s more demand for the low inventory of homes. In a “buyer’s market,” where there are more homes than there are buyers, the market value is more likely to sit below the appraised value to entice buyers.

The purpose of the home appraisal determines which party pays for it. You’re generally responsible for the cost if you need to know the current value of your home to refinance your mortgage, though in some instances the lender will pay for it. The buyer pays for the appraisal when they are applying for their mortgage.

Appraisals can come in above or below the list price or offer price for a property, and where it falls depends on many factors. Those include the condition of the property, the location, and the age of the home, but often, the condition of the market is the biggest determining factor. Where demand is high for properties, buyers compete with each other for homes, which tends to drive up offer prices above where appraisals come in. Where demand is low, you’ll often see the opposite happening.

Ideally, you’d never pay more than the appraised value for a home, but there are some instances where it makes sense to do so. For example, if your current living arrangements are no longer viable and you need a place to move into quickly, paying more than the appraised value might be in your best interest to secure a new home. Additionally, if you’re buying in a hot market, overpaying for the home might be necessary to overcome the competition.

As a seller, it might feel tempting to skip the appraisal, especially in a hot market that sees a lot of all-cash offers. While you can technically forgo it and hope for an all-cash offer, you’ll likely have a very tough time selling without an appraisal. 

In addition to protecting lenders from risk, appraisals also protect buyers’ investments. As such, it isn’t typically recommended for buyers to skip appraisals.

The Wasco, OR homeowners’ guide to property appraisals

From average costs to expert advice, get all the answers you need to get your job done.