What Do Home Appraisers Look For?
AuthorAmanda Dodge. Date:
An appraisal is an objective evaluation of a home’s value. Buyers often seek appraisals to confirm the home is priced fairly and they are often required by mortgage lenders. This is because the bank doesn’t want to lend out more than the home is worth. In some cases, sellers might seek out home appraisals before listing to confirm that they are choosing the right listing price for their properties. Appraisals may be required to refinance mortgages or take out home equity loans and lines of credit. At times, there’s ambiguity about what home appraisals cover. Sellers might get caught up on certain home features while buyers want to know how the appraiser reached their evaluations. This guide will answer, “What do home appraisers look for?” while also addressing what they don’t – and what buyers and sellers can do with this information. What Do Home Appraisers Look For? Four key … Continued
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