Home Appraisal

The home appraisal is a no nonsense factor in a decision that is often emotional for the buyer.

Home appraisal. If you haven t been active in the real estate market in the past few years buying or selling a home the term appraisal management company amc may mean nothing to you. Home appraisals are conducted by a professional appraiser to give an estimate of the market value of a house or property. A home appraisal is an unbiased estimate of the true or fair market value of what a home is worth.

A licensed appraiser with no connection to the buyer seller or lender provides the home appraisal using the condition and location of your property plus comparable sales and market trends. And it protects you from paying too much for a house simply because it was love at first sight. A home appraisal also protects the bank from getting stuck with property that s worth less than they ve invested.

The home appraisal occurs after you accept an offer and usually within seven days after an inspector has reviewed your home. In other words once you and the buyer have worked out details about a price repairs and credits essentially all the financial give and take the lender will send in an appraiser to assess the fair market value of. A home appraisal is an objective estimate of the value of your property.

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. But it s important to understand what an amc is and how appraisals work because nowadays the appraisal can be a potential deal killer when you re trying to sell buy or refinance.