When buying a house, you have to get a property appraisal when trying to secure new financing so the loan company can determine a realistic value. But that isn’t the only reason to shell out for a.
Get an appraisal before you list a home. Search for a qualified appraiser in your area on the Appraisal Institute site. Use the appraisal to set a realistic listing price for your home.
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You can speak with your appraiser; the prohibition applies only to your lender. If you’re a seller: Get an appraisal before you list a home.
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How to Get the Highest Appraisal on Your Home | RealEstate.com – Fortunately, there are steps you can take to assure that you receive credit for all the ways you think your house is worth maximum dollars. To guard against a low appraisal based on erroneous information, compile an information packet for the appraiser. Just a few, neatly typewritten pages in a folder will do the trick.
In a purchase and sale transaction, an appraisal is used to determine whether the home’s contract price is appropriate given the home’s condition, location, and features. In a refinance, it assures the lender that it isn’t handing the borrower more money than the home is worth.
Home Appraisal: How to Get Maximum Value – realtor.com. – An appraisal, paid for by the buyer, is required by the buyer’s lender to ensure that the property’s value is equal to or higher than the loan amount. If your buyer has offered $250,000 on your home and intends to borrow $225,000, your home must be worth at least that much or more.