Appraisal

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An appraisal on your home is an unbiased estimate of how much a home is worth. When buying a home, the lender requires an appraisal by a third party (the appraiser) to make sure the loan amount requested is accurate.

During a home sale, the lender sends out an appraiser to give their professional opinion on the property value. Since the home serves as collateral for the mortgage, the home appraisal helps the lender decide if the property is worth the amount of the loan the potential buyer is seeking. If the home’s appraised value is below what the buyer has offered, the lender may request the buyer pay the difference in cost.

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About The Author
Portia Green, REALTOR®

Portia’s clients all have a similar story. Most likely, you met her huddled around a tablet at the dinner table yet she feels like a friend. Her personable nature and easy going approach attract Sellers and Buyers alike, in what can be a stressful and emotionally charged event. A talented REALTOR® with 16 years experience, Portia is just as excited about real estate today as she was with her first transaction. She remains ever-committed to helping her clients find their place in the world and helping busy people navigate this crazy real estate market like a pro.

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