05/31/2023
Understanding home appraisals is an important step in the home-buying process!
A home appraisal is an unbiased assessment of the value of a property conducted by a licensed or certified appraiser. It is typically ordered by a lender when a person is seeking a mortgage or refinancing their existing mortgage. The appraisal is used to determine the fair market value of the property, which is the price a willing buyer would pay and a willing seller would accept for the property in an open market.
Educating yourself on the process and the different factors that influence the appraisal can help you make the right decision when it comes to buying a home