9 Things to Know BEFORE Your Home Appraisal
Here’s what you want to know about your home appraisal and the role it plays when buying a home.
After spending several weeks touring homes throughout Raleigh, you have finally found the home of your dreams. The seller accepts your offer and you are officially under contract and the home will be marked contingent. Your mortgage lender informs you of the next step in the process: the home appraisal. While the process may sound intimidating, there is no reason to be alarmed. A home appraisal is typically required by all mortgage lenders and is a necessary step in securing a loan to purchase a property.
1. What is a Home Appraisal?
A home appraisal involves analyzing a home in-person and…