O I NEED A HOME INSPECTION WHEN MY LENDING INSTITUTION IS HAVING THE HOUSE APPRAISED?
Yes!! An appraisal is an independent, third party evaluation of the current market value of the house. The primary purpose of an appraisal is to establish the value so the lending institution can determine how much it can loan to the buyer. An appraiser evaluates the home relative to similar properties in the vicinity and the prices at which they sold in order to establish the value of your house.
Related Questions
- Does a consumer need to be concerned with what is in the appraisal document as long as it satisfies the needs of their lending institution?
- To get the loan, the lender had to have the house appraised. Can’t an appraisal be considered a home inspection?
- O I NEED A HOME INSPECTION WHEN MY LENDING INSTITUTION IS HAVING THE HOUSE APPRAISED?
