Colorado’s booming housing market means that it can home appraisers often have jam-packed schedules. That often means increased wait times for clients, and the need to schedule appointments in advance of when they’ll actually be needed. Making sure you schedule that appointment with the right appraiser can save you time in the long run and help make sure you sell your home on schedule.
Finding the right appraiser can be tough, however, if you don’t know what you’re looking for. Here are some questions to ask potential appraisers to see if they’re the right one for you.
Are you certified or licensed?
Though they sound similar, the two can mean very different things. A licensed appraiser can appraise simple one, two, three, or four unit residential properties up to $1 million. A certified residential appraiser can appraise any one, two, three, or four residential properties of any value. A certified general appraiser can appraise any residential or commercial property of any complexity and size.
What is your appraising experience?
The more experience an appraiser has, the better they’ll be at finding the right value for your home. This is especially true when it comes to their experience in the Colorado real estate market, which will give them more of a sense of local market trends. Real estate value depends strongly on its comparison to other homes in the area, and the more the appraiser knows about those values the more accurately they can judge the value of yours.
What are your professional designations?
Though it’s not required, a lot of appraisers will get other professional designations in addition to their licensing. These can come from a variety of organizations, including the Appraisal Institute and the American Society of Appraisers. Depending on the issuing organization, these designations mean that the appraiser has met certain standards, education, and ethics requirements. It also means that the appraiser is pursuing continuing education opportunities to stay informed about the field.
Checking their answers
You can verify any of an appraiser’s answers by checking with Colorado’s Division of Real Estate, which keeps track of local appraisers, brokers, mortgage loan originators and more. Give them a call at 303-894-2166 or 800-886-7675, or visit them online.