Having an appraiser evaluate a house we are buying in cash?

[Nicholas Jones]

Hi All,

I am looking to buy a house to flip in the Austin area, and in addition to my contractor inspecting the property I am wondering if anyone thinks there is value in also having a professional real estate appraiser come to give a valuation on the house as well before we close the deal. My thinking is that the appraiser could confirm the exact market value of the house so we can know for certain if we are getting a good deal, even though it would not be required since we are not financing through a traditional mortgage. Is this a common or advisable practice for investors who are buying with cash?

Thanks for your help!