When many people see terms like, “valuation” or “appraisal,” they may think of the required appraisal that is completed when purchasing a property, used to ensure the amount of money requested from their lender is appropriate. While this is a critical time to get your property appraised, it is most certainly not the only time a property should be evaluated. What are some signs you should have your real estate investments evaluated?
If you agreed to your loan a while ago, there’s a good chance your situation has since changed. If your credit has increased and you would like to agree to a more desirable rate for your loan, or you’re having trouble making your payments and would like some relief, you may consider refinancing your loan. If you end up deciding to do so, you will need a new valuation as a step along the way.
Considering Selling the Property
If you are thinking about selling your real estate investment, you should have your property evaluated to ensure you’re selling at an appropriate price. Your agent may also offer a market analysis to support an offering price. However, an appraiser can assist you in supporting a market value conclusion that lenders will be rely on in underwriting. This is a great way to discover if you are content with the current market or if you would like to wait for it to improve before moving forward with putting your property up for sale.
Over time, if you have been making additions and investments to the property itself, the value of the property will have naturally increased, meaning it may now be underinsured. If you think this is happening with your property, it’s time to have your investment evaluated by a professional so you can adjust your insurance accordingly.
Partner with Willowbrook Valuation & Advisory Services for Investment Valuation
At Willowbrook Valuation & Advisory Services, we are a leader in trusted insight, cutting-edge innovation and customer service. We offer exceptional CRE appraisal services and remain dedicated to offering every client the individual valuation service they expect with the capabilities and expertise of a larger firm. To learn more about our valuation and advisory services, please contact us at (202) 919-3888.