Why would a person need an appraisal?

Type: FAQ's
Why would a person need an appraisal? There are many reasons to obtain an appraisal with the most common reason being real estate and mortgage transactions. Other reasons for ordering an appraisal include: To obtain a loan. To lower your tax burden. To establish the replacement cost of insurance. To contest high property taxes. To settle an estate. 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. Because a government agency such as the IRS requires it. If you are involved in a lawsuit.