Property appraisals can make or break your investing deal. Here are some quick tips on how to manage the appraisal process.. Hi, this is Frank Chen with REIClub.com, your link to creative real estate investing. Today I’ve got a quick video on how investors should handle real estate appraisals. Four Tips On Getting An Appraisal 1. Do Your Due Diligence. – Do your homework or have an agent do this – Get comparables, using county auditor website, MLS – Three or more most recent comparable properties that have sold will always be used. 2. Qualify the Appraiser. – Always Check Status of license, any complaints, experience – It is better if they are local because they know the market better – They can tell you about pending sale or other comparables 3. Order The Appraisal – Give those comparables to the appraiser – Tell the appraiser what value is needed. – Ask the appraiser if they know of any other pending sales or comparables that you have not presented. – Ask them to call you before they come out , if there are any changes in houses sold or any pending sales. – Ask about turnaround, when can you expect appraisal to be completed. 4. Meet Appraiser At Property – Be there if possible so you may answer any questions they may have – Do not disturb or interfere – Answer all questions – Common questions they may ask: Roof age, any additions, remodeling or updates, A/C, heating, etc Notes – It takes three to seven days to complete the appraisal. – An appraisal is good for 30 days So these four tips on getting an appraisal should help make the process smoother. Qualify an appraiser first, local is better, get comparables and give them to appraiser beforehand, if possible be there to answer questions, try to stay out of the way. Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you’ll be automatically notified when we upload more quick video tips for you. Take care and good investing.