potential pitfalls with appraisals and how to manage them: Why Does an Appraisal Matter When You're Buying a Home? - 09/07/15 01:55 PM
You're Buying a Home with a Loan
and
The Bank Requires an Appraisal. 
 
You found the home you want to buy.  You and your Realtor review the comparables and you decide the price you'd like to offer on the property.  The offer is submitted and the seller accepts.  Fantastic!  Now what?
 
If you're obtaining a loan, the bank will require an appraisal.  
 
The goal is for the appraisal to come in at the contract price.  If it comes in higher, it's interesting but doesn't affect the transaction.  It may make you feel good to know you have some built in equity right out … (16 comments)