What is the primary role of an appraiser?

The primary role of an appraiser is to provide an unbiased estimate of a property's value for lending purposes. This involves assessing various factors such as the property's location, condition, and the prices of comparable properties in the area to arrive at an objective value. This valuation is crucial in real estate transactions, particularly when buyers seek financing through mortgages, as lenders require an independent assessment to ensure that the property value justifies the loan amount.

The appraiser's objectivity and expertise help maintain stability in the real estate market and protect both lenders and buyers from engaging in transactions that may lead to financial loss. While aspects such as home improvements, structural assessments, and pricing strategies can affect the overall market and specific sales processes, they fall outside the scope of an appraiser's primary responsibilities. Their core focus remains on delivering a fair and impartial estimate of property value.