Mick Vosberg has been a managing real estate broker since 1987 and a licensed appraiser for 20 years. Serving Iowa, Illinois and Wisconsin, he has completed more than 10,000 appraisal reports and eligible to perform federally funded appraisals up to $1,000,000. Appraisals are performed accurately, high quality and at competitive fees. All appraisals are prepared in conformity with the Code of Professional Ethics & Standards of Professional Appraisal Practice of the Appraisal Institute, which include the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation.
Question:
Why would I need a professional appraisal?
Answer:
Anytime the value of your home or other real property is being used to make a significant financial decision, a professional appraisal is needed.
If you’re selling, an appraisal helps you set the most appropriate value. If you’re buying, an appraisal makes sure you don’t overpay. A home is often the single largest financial asset anyone owns. Knowing its true value means you can make the right financial decisions. There are many other reasons to need an appraisal, such as:
- to obtain a loan
- to lower your tax burden
- to establish the replacement cost for insurance
- to contest high property taxes
- to settle an estate
- to settle a divorce
- 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 required it if you are involved in a lawsuit
