Buying selling a home Orlando

Buying a home may require an appraisal

Appraisals are what a lender uses to determine the value of a home you are asking them to lend money on. An appraisal differs from a market analysis performed by a real estate agent. While most market analysis reports generally are close to the final appraised value, a lender requires a third party to complete a detailed appraisal before approving your loan.

The appraiser should have no interest in the property. The appraiser’s opinion of value is determined by comparing the subject home to recently sold homes in the neighborhood, calculating the cost per square foot for construction and accounting for improvements and upgrades to the subject property.

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