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 - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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