An estate appraisal is not an option for those generating wealth with real estate.
By Mark
Wednesday, January 10, 2007
Over 90% of the millionaires in America made their money in real estate. The recent explosion of refinancing and mortgage loans only proves that the increasing value of your home can provide an important nest egg upon which to grow your personal wealth. Whether you simply trying to access money tied up in your home, trying to make money by flipping homes, or becoming a full fledged landlord, an accurate appraisal is your necessary first step.
Banks require appraisals before they’ll even consider a mortgage or refinance. You should have one of your own before you even approach a bank. The information in a real estate appraisal will tell you what surrounding houses are selling for. It will tell you what you need to repair in order to increase the value of your property. Perhaps most importantly, an appraisal is knowledge, and in business, knowledge is power. The power to know what you have or are consider buying. The power to make improvements that pay off ten-fold. The power to talk to the banks from a position of strength. In short, a real estate appraisal is absolutely necessary.