Why would someone get their home appraised?

Answer

When you get your home appraised, you are trying to determine its value. Before you sell a home, it’s a good idea to get it appraised. Other reasons homeowners might want their home appraised would be so they can determine how much to insure the home for, to reduce their property taxes (if they think their taxes are too high because their home has decreased in value), or when trying to determine the home’s value before a divorce.

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Special note

Note that before you buy a home, your lender will require that the home be appraised first to determine how much money they’ll lend you.

Learn how to find a home appraiser.

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