Can I Get an Appraisal Done on an Owner Financed Home?

Absolutely, and it's a smart step even though no bank is requiring one.

Why an Appraisal Matters

Without a bank in the mix, there's no automatic third-party check on the sale price. An independent appraisal confirms you're paying a fair market value for the property.

How to Order One

You can hire a licensed appraiser directly, just as a bank would, even in an owner-financed transaction. The seller may also be willing to split or cover part of the cost.

What If the Appraisal Comes in Low?

Use it as a negotiating tool. A lower-than-expected appraisal gives you leverage to renegotiate price or terms with the seller.

Bottom Line

Skipping an appraisal to save a few hundred dollars can cost you far more if you overpay for the property.

Learn more about valuing your purchase at ownerfinancedhomesforsale.com.

This article shares general educational information about owner financing and is not legal or financial advice. Consult a licensed real estate attorney or financial professional before entering into any owner financing agreement in your state.