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property lines: Why do I need an appraisal? Do I need a survey? Do I need a title search? - 06/09/11 04:23 PM
I just had these three questions posed to me today:

Q: Can a house be sold without an appraisal?
A: A buyer cannot secure a loan without an appraisal. The appraisal assigns a value to the home. This value is what the lender will use to determine how much and if to loan the purchase money to the buyer. The appraisal is ordered by the lender and paid for by the buyer during the loan application process. In the case of a cash buyer, they can still order their own independent appraisal if they wish. After all, an investor or … (1 comments)

 
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Cathy Baumbusch (cathybREALtor)

Springfield, VA

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RE/MAX Executives

Address: 4000 Legato Road, Fairfax, VA, 22033

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