06
Sep
By Adrian Willanger
Homeowner Tips, ,

7 Commonly Asked Questions About Home Appraisals

When buying or selling a home, a crucial step in the process is the home appraisal. It helps determine the property's fair market value, which can significantly influence financing and negotiation outcomes. Whether you're a first-time homebuyer or a seasoned seller, understanding the appraisal process is key. Here are seven commonly asked questions about home appraisals to guide you through. 1. What is a Home Appraisal? A home appraisal is an unbiased estimate of a property's value conducted by a licensed appraiser. Lenders require an appraisal to ensure the home is worth the loan amount being requested. The appraiser assesses…
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11
Jun
By Jim Hasek
Mortgage, ,

Buying A Home: You Might Be Able To Skip The Home Appraisal – But Should You?

When someone is thinking about buying a home, one of the key parts is the home appraisal. The appraisal ensures that the buyer is paying a fair price for the home while also protecting the mortgage lender against taking a loss. On the other hand, an appraisal is also an added cost of the buyer can be a serious source of stress for both sellers and brokers. Recently, government agencies have passed a rule saying that home appraisals are no longer going to be required on homes that are less than $400,000; however, many lenders will still require them. Therefore,…
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