BUYER APPRAISAL

Home Buyers, Why do you need a Real Estate Appraisal?
How much does it cost if you overpay for that home or condo?
Could there be a problem when one pays the top price in a market?

Home Buyers, Why do you need a Real Estate Appraisal?

In today's market of rising home values and limited inventory it is imperative to obtain an appraisal before entering into a contract of sale. An appraisal will provide you with an unbiased estimate of market value. 

An appraisal is an effective tool when bargaining. An appraisal provides you with factual data regarding the value of the home.

Real Estate brokers represent the seller. Unless you are working with a buyer broker it is the Real Estate Brokers job to obtain the Highest price possible for the home. They do not represent your best interest. They must represent the interests of the seller. An appraisal will give you an unbiased opinion of value.   

At INHOUSE Appraisal, we realize that time is short and you need to make your decision to purchase quickly.     Please contact regarding time scheduling. 

 This is a sample clause that you my want to insert in your agreement of purchase and sale:

"This Offer is conditional upon the Buyer obtaining at his/her expense a satisfactory appraisal on or before (date time)  (ie: "6:00 pm on ___ day of _______ 200__"  OR "_7_ days") following the acceptance of this Agreement of Purchase and Sale, failing which this offer shall be null and void and the deposit shall be returned to the Buyer in full without interest or deductions.  This condition is included for the benefit of the Buyer and may be waived at his/her sole option.  The Seller agrees to co-operate in providing access to the property including the structures for the purpose of this appraisal." **

Also see sample clause under Mortgage Appraisal

** Sample Clauses- consult with your expert mortgage broker, real estate agent or lawyer.