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• If you are buying or selling a house.

You want to sell your home by yourself.  An appraisal can help establish the asking price.

You have a very unusual home that you want to list with a real estate broker, but the two of you cannot agree on a listing price.  An appraisal can help establish the asking price.

You just saw the perfect home being sold by the owner.  You want to buy it, but you are unsure of what a fair offer would be.

• If you are relocating to another city because of your job.

Your employer may offer you a relocation package where your home will be purchased if you cannot sell it within 60 days.  This will enable you to use your equity to purchase another home and get relocated quickly.  An appraisal can help determine a fair purchase price.

• If you are refinancing an existing mortgage.

 You think that your home has increased in value since you bought it, and you want to utilize the equity for an investment in a business, pay for a child's tuition, consolidate bills, etc.  Equity is the difference between the market value of your home and the existing balance of your mortgage.  Lending institutions require an appraisal to determine equity.

You are a senior citizen living on a fixed income, but you have a house that has equity.  You don't want to sell the home, but you need help every month in paying the bills or making repairs.  A reverse mortgage can tap that equity and give you an additional fixed monthly sum to help make ends meet.  An appraisal is needed to apply for a reverse mortgage.

• If you are thinking of remodeling or adding on to your home.

You like your home and your neighborhood, but you need more space for your growing family.  You could add more living space to your home with an addition.  An appraisal can analyze the potential increase in value of the home with an addition.  Adding on may not be wise if you are over-improving the home compared to other homes in the neighborhood.  Remember, improvements to a home rarely translate into increased value dollar for dollar.

You want to upgrade the kitchen and/or baths in your home or perhaps open walls or add larger windows to make the home more up to date compared with newer homes.  Is the money you are planning to spend a good idea or would it be better to move?  An appraisal can provide the information that you need.

• If you are contemplating a tax assessment appeal.

The assessor in your town has re-evaluated the market value of your home, and the tax assessment has been increased.  You think that the re-assessment is excessive.  Since assessments are based on market value, you need an appraisal to determine if you should file an appeal.

• If you want to remove PMI insurance reguirement on your mortgage.

When you purchased your home, if you had a very small down payment, the lender required you to pay for private mortgage insurance every month along with your mortgage payment.  A considerable number of years have passed since the purchase, and your home may have increased in value.  An appraisal may reveal that your equity has increased sufficiently, so the PMI insurance is no longer needed.

• If you are planning your estate or acting as executor for an estate.

You have been designated as executor of the will of a family member or friend who has recently passed.  The deceased left real estate that must be disposed according to his or her wishes.  You will need an appraised value of the real estate as of the "date of death".

You want to write your will or set up a family trust.  It is helpful to know the value of the family home or any other real estate that you own.