| Customers
often ask us how much it would cost to replace their home, without realizing that we are
not in the position to give these estimates. While no one knows your home better than you
do, a professional appraiser's counsel is invaluable in determining its worth. Spending a
few dollars now on an appraisal could save you hundreds of dollars in the future. But
first, it is important to find a competent, qualified appraiser. Here are some tips:
Check for qualifications and expertise.
The most prestigious professional designation
is from the American Society of Appraisers (ASA). To get a list of members in your area,
you can contact ASA directly at (703) 478-2228.
Get references.
Feel free to ask for references! Good sources
for reputable appraisers are you banker, attorney, or a real estate agent.
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Discuss
charges up front.
Most appraisers charge an hourly fee from $50
to $150 for their services, which includes research and document preparation. There may
also be charges for photographs or videotapes, if desired. Ask for an estimate before they
begin, and beware of those who base their fees on a percentage of the appraised value of
your estate.
When the process is completed, review the appraisal
document and keep copies in a safe place. We'd be happy to
get together with you to discuss your insurance program, and to
answer any questions you may have. Taking these precautionary steps will help you identify
and replace your treasured possessions should a loss occur.
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