What Is A Good Appraisal When Buying A Home
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- Key Takeaways An appraisal is an unbiased professional opinion of the value of a home and is used whenever a mortgage is involved in... A qualified appraiser creates a report based on a visual inspection, using recent sales of similar properties, current... The borrower usually pays the appraisal ...
- Feb 22, 2019 · The home appraisal process is just a formality when buying real estate, right? You've found the house you love and put in a good offer, and it was accepted!
- Feb 23, 2021 · If you're buying, selling, or refinancing your home, an appraisal will likely be a part of your process. Here's everything you need to know about home appraisals.
- Jan 24, 2020 · A home appraisal is an objective estimate of the value of your property. A licensed appraiser with no connection to the buyer, seller or lender …
- While an appraisal gives you a good idea of your home’s value, there’s no way your appraiser can predict how your home will actually perform on the open market. Maybe you’ll get 10 offers, and the price will be driven up. Maybe it will stay on the market for weeks or …
- Aug 10, 2016 · What if the appraisal is lower than purchase price: your options. A low appraisal is bad news because the lender will only provide a loan up to the appraised value, overriding your agreed-upon purchase price. Going back to the example provided earlier, who covers the $10,000 discrepancy between your offer of $390,000 and the appraisal of $380,000?
- Apr 03, 2020 · During an appraisal, a licensed appraiser evaluates the home you want to buy in person and gives you an estimate on how much it’s worth. Typically, the appraiser is chosen by the lender but paid for by the buyer as part of the closing costs. Appraisals cost around $400, but can cost a bit more or a bit less depending on your home size and location.
- I’m sad that this article got so many negative and seemingly petty responses. I found it very helpful as someone going through the home-buying process for the first time. Thank you for writing it as there is a dearth of good appraisal articles on the web.
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