appraisal: The Appraisal...
- 05/09/11 02:42 PM
One of the key components of your loan approval will be the price and condition of the home you are financing. In order to determine this value and condition, the lender will usually require that an appraisal is done. The appraiser will often visit the property and take photos of the interior and exterior of the property. They will then compare it to all of the homes in that subdivision that have sold and closed within the past 6 months. They are typically able to travel up to 1 mile away from the property to get this information. Once all … (1 comments)
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