Who is typically responsible for conducting the property appraisal before a sale?

A licensed appraiser is typically responsible for conducting the property appraisal before a sale. This professional is trained and accredited to assess the value of real estate based on a variety of factors, including location, condition, market conditions, and comparable property sales. The appraiser provides an objective evaluation that helps both parties in the transaction—buyers and sellers—understand the fair market value of the property.

The appraisal is crucial in financial contexts, such as securing a mortgage, as lenders want to ensure that the loan amount is appropriate in relation to the property’s value. This independent assessment minimizes the risk for lenders and provides a clear basis for negotiations.

In contrast, buyers and sellers may have their own perspectives on the property's worth, but those are subjective and may not reflect market realities. The title company typically deals with issues related to ownership and liens rather than property valuation. Therefore, the licensed appraiser plays an essential and impartial role in establishing a property's value prior to a sale.