What role does an appraiser play in real estate transactions?

An appraiser's primary role in real estate transactions is to determine the market value of a property. This valuation process is essential as it provides a professional estimate of what the property is worth based on a variety of factors, including the property’s condition, location, recent sales of comparable properties, and current market conditions. The appraiser's assessment is crucial for buyers, sellers, and lenders as it helps establish a fair sale price, supports financing decisions, and ensures that the buyer is not overpaying for the property. By providing an independent evaluation, the appraiser helps maintain trust and transparency in real estate transactions.