Facts About Residential Real Estate Appraisals

 

Your lender will require an appraisal when you ask to use a home or other real estate as security for a loan, because it wants to make sure that the property will sell for at least the amount of money it is lending.

Don't confuse a comparative market analysis, or CMA, with an appraisal. Real estate agents use CMAs to help home sellers determine a realistic asking price. Experienced agents often come very close to an appraisal price with their CMAS, but an appraiser's report is much more detailed--and is the only valuation report a bank will consider when deciding whether or not to lend the money.

About Appraisers and Appraisals

  • Appraisers are licensed by individual states after completing coursework and internship hours that familiarize them with their real estate markets

PREFERRED APPRAISERS:

Quality Home Appraisals

Nick Pavle - Owner/Appraiser

214-288-5619

 

 


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