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The Residential Real Estate Appraisal And Its Purpose
The Residential Real Estate Appraisal And Its Purpose The Residential Real Estate Appraisal and Its Purpose.  The residential real estate appraisal is a key component to many real estate transactions.  If you are getting a loan it is imperative that the home “appraise” or you might find your loan terms modified.  If it doesn’t “appraise” … demonstrate a fair market value at least as high the price of your offer … then you may find you will have to add money, or try to renegotiate the sales price with your Seller in order to close your loan and complete your purchase. Residential Real Estate Appraisals are necessary to protect the interest of both the Buyer and their Lender.  A Buyer doesn’t want to pay too much.  Regardless of how much you understand the market, it is comforting to have the opinion of an experienced licensed appraiser to confirm that you are making a wise decision as you go forward with your purchase.  Lenders, on the other hand, must be assured that they have sufficient value to protect the investment they are making when giving you the loan to purchase the house. The residential real estate appraisal for a loan to purchase ... more

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