Some of my friends have asked me if it is a good idea to hire your own appraiser before you buy a foreclosed property. People who are thinking about buying foreclosed properties or REOs (bank owned properties), need that extra peace of mind and hire their own appraiser before they buy the property. If a client wants to know the value of the REO property before buying it, then that client can call their local real estate appraiser to appraise the property and give them an idea of how much the property is really worth. Remember, only federally related loans require certified or licensed appraisers.
To learn more about the Benefits of Hiring Real Estate Appraisers visit: http://www.life123.com/career-money/real-estate/investment-property/the-benefits-of-hiring-real-estate-appraisers.shtml
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