Let's talk about an appraisal and when is one needed. As a real estate broker, this question comes up frequently. The lender orders an appraisal to make sure the value of the property is sufficient to cover the amount of the buyer's loan. When listing a property, it is crucial to show how you determine the asking price. When a Real Estate agent does this research, it's called a CMA comparable market analysis. This information is useful to share with the appraiser, along with the details of the home. Have a list of the improvements, like dates of the roof and HVAC. When … (13 comments)
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