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Posts Tagged ‘Appraisal’

What is a Home Appraisal?

During a home appraisal, the appraiser will typically conduct a physical inspection of the property, taking note of its features, condition, and any upgrades or improvements that have been made. They will also research the local real estate market to identify recent sales of similar properties in the area, which can be used as comparable in determining the property’s value.

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An Overview Of A Drive By Appraisal

If you are applying for a home loan of any kind, there is a high likelihood that your lender will require a home appraisal. An appraisal is done to figure out how much your home is actually worth because the lender does not want to lend you more money than you could theoretically sell the home for in the future. There are some situations where the lender might be fine with a drive/by appraisal. What does this mean?

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