A home purchase is the largest, single investment most people will ever make. Whether it’s a primary residence, a second vacation home or an investment property, the purchase of real estate is a complex financial transaction that requires many parties to come together..
The appraisers part of the process is to confirm the value you are paying (or re-financing) is what you paid!
An appraisal is an unbiased estimate of what a buyer might expect to pay – or a seller receive – for a parcel of real estate, where both buyer and seller are informed parties.
As a part of your mortgage financing your lender will wish to confirm your property value through a licensed appraiser (some lenders also use an approved list). The appraisal is compromised of a few key components.
- The Inspection – Generally an onsite visit is included along with photos of the property.
- The Approach – Are they using comparable properties and sales (most common in a purchase or refinance) or are they considering the cost of land, materials etc.
- The Report – A multi-page report outlining the details of the final value.
So, as you can image, the appraisal is a very important part of the process, and we have teamed up with the very best to ensure you are well taken care of in your financing experience!
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What To Do Next? 😎
- Reach out to us If you are THINKING about buying or Refinancing
- Send This Info & Video to everyone you know who is buying or selling or maybe refinancing Remember: they may be thinking of a refinance, investment property OR know a friend who is currently thinking of buying.
- Contact us early to get ahead of the game, even if your mortgage is not up for renewal until next year.
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