The Role of Home Appraisals: Understanding Their Impact on Your Transaction
Posted by arhome realty on
the role of home appraisals: understanding their impact on your transaction
When you're in the midst of buying or selling a home, the appraisal is a pivotal moment. But what exactly is a home appraisal? In simple terms, it's an unbiased estimate of a property's fair market value, conducted by a licensed or certified professional appraiser. Home appraisals serve multiple purposes, all of which significantly impact your real estate transaction.
why do home appraisals matter?
Appraisals determine the market value of your property by considering various factors such as size, condition, location, and comparable sales in the area. Secondly, appraisals are often essential for securing financing. Though it depends on your loan program, most loans…
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