What is an appraisal

Hi Richo,

Welcome to the forums.

An appraisal is a process by which the property one buys is being evaluated. It plays an important role in the homebuying process. This is because it helps one determine the actual value of the property to be bought. This in turn helps a person take out a mortgage because the loan amount would depend on what the property value is.

To know more on Home Appraisal, refer to the section on this topic.

Take Care

A description of appraisal is also given at http://www.hud.gov/offices/hsg/sfh/appr/appr_publ.cfm

Please have a look.

example for a home, the appraisal is an estimate about the money amount of your home can being sold for. this appraisal process can be handled by an appraiser which is a professional person to tell you what your home is worth. The appraiser will come to your home and list the number and size of the rooms and any extras, The appraiser then estimates that your home might sell for approximately the same amount of money as similar homes. one of my friend is just a appraiser, she work very hard ,she always work busily. when someone got to their estimate company, if this client is my friend's,she will go to the client's destination example a house with the client and the bankworkers to do a estimate. the result of the estimate will be approximately value of youe estate or which you want to buy. so ,it's very important.

An appraisal is the most complete home valuation product available. It is the standard property valuation report used by lending institutions. An appraisal is a highly accurate opinion of value from a local, licensed appraiser. An appraiser will make an appointment to view your home and supply you with a written report that will include an opinion of value in today's market. Each report will also include comparable sales, formulas and the qualifications of the appraiser.

When I got one for my house it actually helped me get more money for the sale.