As stated above, if you are financing it (I assume you are) the bank has the appraisel done for your loan. It will be included with the closing cost of the mortgage. Most banks have a list of certified appraisers they use exclusively.
Make sure you put in the purchase agreement that the property sale is contengent upon the appraised value. Meaning, the property has to be worth equal to or less than the purchase price. if not, you can void the sale and get your deposit money back. This will keep you from having to pay the additional amount out of your pocket since the banks only finance about 80% of the loan value. So, you don't want to have to come up with the remainder of it.
This post was edited by johndeerefan at 11:23:57 10/05/11 2 times.
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Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
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