Refinance Appraisals: What You Need to Know
Refinance Appraisals: What You Need to Know An appraisal is commonly required when refinancing a property because it provides an estimate of the current market value of the property. Lenders use this information to determine the amount of money they are willing to lend and to ensure that the value of the property is sufficient […]
How Appraisals Appear in Real Estate Purchase Contracts
Are Appraisal Contingencies Necessary? Appraisal Contingencies, Clauses, and Riders Appraisals appear in real estate purchase contracts as an appraisal contingency, or an appraisal clause. The appraisal contingency or clause is a provision in the contract that outlines the conditions that must be met regarding the appraisal of the property, before the sale can be completed. […]
Appraisal Waivers: The Good and Bad
Appraisal Waivers: The Good and Bad What are Appraisal Waivers? An appraisal waiver is a provision in a mortgage loan agreement that allows the lender to forgo the process of having an independent appraiser assess the value of the property being used as collateral for the loan. Instead, the lender will use their own internal […]
How to Increase the Value of Your Home
Whether you plan to stay and enjoy upgrades in your home or you want to sell soon, there are many ways you can increase the value of your home. Here are some things to increase home value: Maintain the property in good condition Address health and safety concerns Home upgrades and remodeling Additions and expansion […]
Are Real Estate Appraiser Trainees Qualified?
While it can initially be worrying to see a real estate appraiser trainee on your home appraisal report, rest assured that trainees are well educated and carefully supervised throughout their training process. Real estate appraiser training is a program designed to prepare individuals to become licensed or certified real estate appraisers. The training includes both […]
What is a Real Estate Opinion of Value and Why Would I Need It?
Learn the meaning of opinion of value for real estate and why you need it. A real estate opinion of value is an estimate of the price that a property would likely sell for on the open market. A real estate opinion of value may be requested for a variety of purposes, such as to […]
What Hurts a Home Appraisal: 3 Critical Elements
What Hurts a Home Appraisal Top 3 things that could hurt your home appraisal: 1.) Lack of Maintenance If your home is in poor condition due to lack of maintenance, it could be valued lower than similar homes that are well-maintained. This is because appraisers will take into consideration the condition of the property when […]
Learn How a Home Appraiser Checklist helps you Finance (or Refinance) a Loan.
Home appraisals help determine the size of your mortgage. You must understand how they work and how to ensure you get an accurate appraisal on your property. The home appraisal checklist is critical to the mortgage process. It helps determine whether you can afford the home you want, and mortgage lenders use it to evaluate […]
What is a Comparative Market Analysis & How Does It Impact the Value of My Home or Real Estate?
Determining the Value of a Home or Real Estate with a Comparative Marketing Analysis A frequently asked question we get all the time is, what is a comparative market analysis in real estate and why is it important for a real estate agent to understand the importance of fair market value in housing prices. Comparative […]
What is Included in a Home Appraisal and How Much Does One Cost?
Costs and Services Included in a Real Estate, Home Appraisal The home appraisal is a process that leads to the development of an opinion of value for a home. The process typically finishes with an appraisal report that contains physical information about the home being appraised, the market in which the home is located, and […]
