Guide to Real Estate Appraisals for Buyers and Sellers
Posted by Lang Realty Blog on
If you’re a renter now buying, a new seller or buyer, here’s an Essential Guide to Real Estate Appraisals for Homeowners and potential residential property owners.
What is a real estate appraisal?
Assessing the value of the property being bought or sold. You can depend on your Lang Realty agent to help you get quotes from and choose a licensed property appraisal service. The types of real estate appraisals differ between residential and commercial.
What is the purpose of a real estate appraisal?
To determine what is called “the fair market value” of the property in the current real estate market, usually within the last 90 days. Your potential lender will require an appraisal to make sure the mortgage isn’t more than the property is…
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