Desktop appraisal-Five reasons you should get one

<<>> A real estate desktop appraisal is an appraisal that is completed at the desk of the appraiser. The appraiser never physically inspects the home. The appraiser will confirm data from public records and MLS data and compile an appraisal report. In these reports, the appraiser does give you an opinion of your home value. Here are five reasons you should get a desktop appraisal.

1. A desktop appraisal is cheaper than a regular lender appraisal. Many times an appraisal like this will work for estate purposes, to determine the listing price, or to find out if you should refinance. A full appraisal may cost anywhere from $280 to $400 or more depending on your home. A desktop appraisal is $75.00 to $200.00 in most cases. This is a significant savings.

2. A desk top appraisal will usually give you a faster value than a full lender appraisal. The reason is simple. The appraiser does not have to schedule an inspection time and visit your home.

3. It is accurate. In most cases, if your house is typical for your market area and there’s not a lot of variation and the appraiser can compile accurate information from public records and Multiple Listing Sales (MLS) data, then the value will be surprisingly accurate. This is because the appraiser will be selecting real MLS sales based on the criteria that you’ve provided them.

4. If you are deciding to get a home loan, get a desktop appraisal first. This will allow you to negotiate terms and interests rate and give you more control of the loan process. Without this appraisal, the lender will order an expensive appraisal to find the value of your home and other important criteria, but the value is usually the deal killer for most home loans.

5. It will help you determine an asking price for your home. In many cases, the listing price will be higher than what the home will sell for. This type of an appraisal will reassure that the asking price is within reason.

So, the next time you are thinking about buying, selling or refinancing, you may want to order a desktop appraisal. Not only is this product cheaper, it may save you 1,000's of dollars on buying or selling or refinancing your home.