Utah County Real Estate and the Appraisal

Real Estate Broker/Owner with Home Buyer Realty Utah 5705835-PB00

Utah County Real Estate and the Appraisal

The Real Estate Appraisal is an important part of your home buying transaction. The appraisal helps to establish what the property’s market value actual is, in fact it would likely be the main tool in helping the seller establish the proper selling price.

Lenders require an appraisal when the home is offered as security for a loan; they want to make sure that the property will sell for at least the amount of money it is lending. Real estate agents often use a comparative market analysis (CMA), with an appraisal to help their home seller determine a realistic asking price for their home. Many times, experienced real estate agents will come very close to an appraisal, but usually the appraisal is very detailed and is the only valuation lenders will accept when deciding whether or not to lend the money.

Recently the Appraisers have come under a very close watch from state and federal officers. Many believe that fraud has taken place in various areas of the country and has forced officials to take a closer look at how to regulate the appraiser industry. Given present state and local policies it is much more difficult to make fraudulent appraisals and be able to get away with it.

The two most common types of appraisals are the Sales Comparison Approach and the Cost Approach. The most common one in the Residential area is the SCA, where comparables are taken from like properties to help determine a proper price.

Your personal approval is accomplished early in the loan process, but the final loan commitment usually hinges on a satisfactory appraisal. The bank wants to make sure its investment is covered in case you default on the loan.

Check out the IDX Websites with Homes for Sale in the following locations:

State of Utah homes for saleHome Selling Utah

Homes available for Sale in Utah County

Alpine Homes for Sale

American Fork Homes for Sale

Cedar Hills Homes for Sale

Eagle Mountain Homes for Sale

Highland Homes for Sale

Lehi Homes for Sale

Mapleton Homes for Sale

Orem Homes for Sale

Provo Homes for Sale Provo Home Selling

Payson Homes for Sale

Pleasant Grove Homes for Sale

Saratoga Springs Homes for Sale

Spanish Fork Homes for Sale

Springville Homes for Sale

Homes available for Sale in Salt Lake County

Salt Lake City Homes for Sale

Draper Homes for Sale

Herriman Homes for Sale

Riverton Home for Sale

Sandy Homes for Sale

South Jordan Homes for Sale

Homes available for Sale in Wasatch County

Heber City Homes for Sale

Midway Homes for Sale

Homes available for Sale in Summit County

Deer Valley Homes for Sale

Park City Homes for Sale

Homes available for Sale in Washington County

St George Homes for Sale

other Southern Utah Homes for Sale

Homes available for Sale in Weber County

Homes available for Sale in Davis County

Utah Real Estate Search

Posted by

Robert A. Hulme 

Home Buyer Realty Utah, LLC
Principal Broker, Owner, Realtor, SRS, GRI, e-Pro

Utah Mobile: (801) 885-2586
Utah Real Estate Search

View Robert A Hulme's profile on LinkedIn

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