Appraisals: The Price Tag Behind the Price
Posted by Lauren Johnson on
If you’re buying or selling a home, the appraisal is one of the most important—and often most misunderstood—steps in the transaction. It’s not just another box to check; it plays a key role in determining whether a deal moves forward smoothly or hits a speed bump.
So, what exactly is a home appraisal?
A home appraisal is a professional, unbiased estimate of a property’s market value, conducted by a licensed appraiser. If a buyer is using a loan, the lender requires this step to ensure they’re not lending more money than the home is worth. In simple terms, it protects the bank—but it also impacts both the buyer and seller in a big way.
What Happens During the Appraisal?
Once the appraisal is ordered, the appraiser will schedule a visit to…
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