value: Appraisal versus Inspection...Do I need an Appraisal or Inspection?
- 05/20/10 05:27 PM
Many of my clients are confused about the difference between a property inspection and a home inspection. Why wouldn't they be when the term "inspection" is often attached to what is a FHA or VA appraisal. To clear this up, an appraisal is ordered by the lender where you are getting your loan as an evaluation of the property's value. Many real estate purchase agreements have language in them addressing that the property must appraise at or above the contract price, assuring that the loan does not exceed the current market value of the property. Appraisers use comparable sales, adjusting pluses and minuses to … (0 comments)
value: What drives home/house values?
- 05/19/10 07:32 PM
Factors that help to determine a home's value can be, the job market, household incomes, school systems, mortgage rates, incentive programs, affordability as well as a property's amenities and location. It goes without saying that buyers look at the number of bedrooms and baths along with the basic size of the home. Today's buyers are also looking for updated or remodeled kitchens and baths, a family room or "great room," larger garages, additional storage area and an outdoor living area, such as a patio or deck. Most people want a home that they can move into easily without having to spend valuable time making … (2 comments)
Many of my clients are confused about the difference between a property inspection and a home inspection. Why wouldn't they be when the term "inspection" is often attached to what is a FHA or VA appraisal.
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