Why Do You Need a Home Appraisal When Buying Another Property?
A home appraisal is a key component of the borrower-lender transaction when you’re buying a home using a mortgage, refinancing your existing mortgage, or selling your home to anyone other than an all-cash buyer.
What Is a Home Appraisal?
A home appraisal is a complex procedure to determine the value of a home, which is an important number for homeowners and potential buyers alike. All lenders order an appraisal during the mortgage loan process so that there is an objective way to assess the home’s market value and ensure that the amount of money requested by the borrower is appropriate.
Why Do You Need a Home Appraisal?
There are a lot of reasons why you might want to have your property reappraised. The most common reason is to obtain a loan on a property.
Top Tips for High-Value Home Appraisals
If you’re getting a home appraisal, read these tips that can help you to get the top current market value for your home: http://www.canadalend.com/Blog/should-you-get-your-property-appraised-before-refinancing/
