Let us help clarify the home appraisal process. Obtaining a home appraisal is a critical step of home buying. Read some of the frequently asked questions..Before you buy or sell a home, you need to have an unbiased professional opinion of the home 's value. Home appraisal can help you to determine the value of . - A low appraisal can ruin the sale of a home. Here are tips to help you fight back..
A real estate appraisal is simply that -- the expert opinion of a certified, state-licensed professional who determines the value of a piece of property. If your $300,000 dream home is really worth only $200,000, then the home is overpriced..As part of that process, your lender orders a home appraisal. It gives you a trained professional's point of view on the fair market value of the home to make sure it's in line with the purchase price..A home appraisal is an unbiased estimate of the true or fair market value of what a home is worth. All lenders order an appraisal during the mort.e loan process so that there is an objective way toess the home's market value and ensure that the amount of money requested by the borrower is appropriate..The home needs to appraise at or above the amount you want to refinance for your loan to be approved. However, if your existing mort.e is an FHA mort.e, you can refinance without an appraisal through the FHA Streamline program - a great option for underwater homeowners..
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Home appraisals are a part of the home buying process that can be confusing for first-timers. When you go to buy a home, your mort.e lender will want to know whether the house you are interested .