Appraising in Delaware, the Blog...

Can Any Single Appraiser Be “Correct”?
June 21st, 2022 9:58 AM

The short answer is no. When you are in the appraising business there is no way you can know exactly how much a home is worth. It is easy to argue with appraisers over the dollar amount they give, especially as the homeowner, because we see much more than just a house with four walls - we see memories, love, hard work and our home. Yet it is much more complicated than that. 

You could request for 3 appraisers to come look at the home and they could all 3 come up with different numbers. Appraisers are just making educated opinions on the worth of a home. Now that's not to say they shouldn’t all be in the same range (typically within 5%) as each other. If there is one outlier in either direction it would be worth looking into. 

If the above situation were to play out, and all were within a reasonable percentage of the others you could easily take the average of the three appraisals to come up with a price. 

At the end of the day though we must remember that we all see things a bit differently. There will be different ways of calculating the cost, reviewing the numbers and comparables among other things.

Posted in:General
Posted by Patti Persia on June 21st, 2022 9:58 AMPost a Comment

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