3 Tips for Selecting a Residential Real Estate Appraiser

Choosing a residential real estate appraisal firm to handle your sensitive information is a crucial decision. When working with a third-party, it is essential that the real estate valuation services offered are accurate, reliable, and most important - credible. A biased or erroneous report can damage your reputation, setback your success, and result in missed opportunities. 

Here are some helpful tips for selecting credible real estate valuation services for your home:

1)  Local market experience

It is vital that your appraiser has years of experience in working in the market related to your property. Each city or neighborhood is unique and has social and economic factors that can differ significantly in each vicinity. If your New York property appraiser is skilled with local market knowledge, you can be sure that your appraisal report will be credible. When the valuation firm does not have access to complete property data, are less experienced, or not skilled in interpreting complex data sets, your appraisal process will be significantly compromised. So, ensure that you choose a local  New York property appraiser to conduct your residential appraisal.

2) Positive reputation

Before finalizing your appraiser, ensure that you garner honest feedback of the past clients to understand how their experience was and how the firm treats its customers and conducts its business. You can also go through online reviews such as yelp.com and go through the testimonials.  Asking referrals from friends and family if they have enlisted the services of the firm you are thinking of hiring can also help you to decide.

3) Accuracy

The most important aspect to consider is the accuracy of their work. In addition to seeking their references, you can ask for a sample report to get a fair idea of their level of work, and the quality of their adjustments and comments. However, if you take a leap of faith and decide to hire the services, do not hesitate to carefully evaluate each point of the report for the level of diligence and accuracy. You can also hire a third-party for reviewing the efficiency and helping you to judge the accuracy of your report.

Making a choice

If you take time to ask detailed questions, carefully review your first reports, and check diligently on referrals, you can be sure of making a right choice.

Business Valuation: How Much is Your Business Worth?

Business valuation is a subject that typically comes up when a business isn’t doing so well and when company owners are contemplating a sale. This, however, isn’t the most practical use for this powerful business planning tool. Why make business valuation and commercial real estate appraisal part of the equation only when you are facing a difficult time in business, when you can actually use them to enhance what you have? Knowing the value of your business can help you make positive changes that can result in greater success in the long run. Valuation can make a difference in your tax perspective, aid you in succession planning, and provide you with valuable insight for when you are making important decisions like considering a merger, divestment, sale, or any other significant business decision.

Here are some of the best ways that knowing your business’ worth can help you in making better business decisions:

• You get good insight into your assets – A business valuation assessment can help you determine the value of your assets, which you can then use to obtain more appropriate insurance coverage as well as to decide which areas you can reinvest in. Knowing the value of your assets will also help you put the right price on the company so that you can make a profit out of its sale.

• You get to know the true value of the company – Many business owners have a general idea of their business’ worth, based on available information like total asset values, stock market value, and bank balances. However, there is a lot more that goes into the actual value of a business than these numbers and factors. Business valuation helps companies know the true value of the company based on other important factors like its rate of growth, as well as its ability to generate income, among many other factors.

• You gain a better understanding of the business’ resale value – In addition to the company’s true value, a proper appraisal of your business will also help you better understand your company’s resale potential and actual value so you can negotiate better during a sale or a merger.

RDC Appraisals have been serving multi-industry clients across different disciplines in the tri-state area, offering the most reliable business valuation and commercial real estate appraisal services to homebuyers, business investors, and organizations in need of accurate valuation analysis of properties and assets.