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What is an appraisal and do I need one to sell or buy a home in the Huntington Beach Real Estate market or Costa Mesa Real Estate market?

April 26, 2017appraisal buy costa mesa Home huntington beach market Real Estate sell

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What is an appraisal and do I need one to sell or buy a home in the Huntington Beach Real Estate market or Costa Mesa Real Estate market?

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An appraisal is a professional estimate of a property´s market value, based on recent sales of comparable properties, location, square footage and construction quality. This service varies in cost depending on the price of the home. On average, an appraisal costs about $300 for a $250,000 house. An appraisal is necessary for any buyer who plans on financing their home purchase. A lender will need to ensure that the value of the house is not below the amount they are loaning the buyer.