There are several reasons why homeowners need appraisals on their property. From date of death, to refinance, new home equity loans and purchases, to value to sell, wills and trusts or PMI removal, there are many occasions to hire a independent third party like a professional real estate appraiser to find the value of a home.
Before May 1, 2009, many appraisers worked primarily with mortgage brokers and lenders for lending-related business. Brokers and lenders could pick and choose which appraisers they worked with and those they did not want to work with. Non-lender business, through attorneys and accountants relies on strong relationships between professionals and appraisers as well. Homeowners, in non-lending situations generally have the flexibility to work with an appraiser of their choosing as well.
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