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annyb27 · Joined: 07 Jul 2009 Posts: 144 -1.08 Dollars($)

What is the purpose of a apraisal when you buy a house?

JKennedySLG · Posted: Thu Oct 01, 2009 11:30 am Post subject:

The appraisal is done really to satisfy both you, the buyer, as well as the bank that the collateral being given for the mortgage is sufficient. I hope this helps...

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Apprisal is to check the value of the property and coampre it with other properties which have been sold around and come to determine the estimated price of the house, so the lender can decide how much he can lend to the borrower.

All it does it protects the buyer and lenders from paying high price for a house

leeelliot61 · Joined: 13 Sep 2009 Posts: 188 0.01 Dollars($)

appraisal is done by indepaendent evaluator who compares it with similar properties sold in same area recently.

it is done to bring transparency in purchase

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Transparency is a good word leeellito61

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