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Before your mortgage application is approved, the lender will order a professional appraisal of the home to make sure that the agreed-upon selling price is justifiable based on the current market value of the property. The cost of the appraisal will be based on the complexity of the appraisal report and the time required to complete it.
A professional appraiser will choose the appraisal technique that is applicable to the particular property to arrive at an unbiased opinion of value. One approach is to look at comparable homes in the area that have sold within the last six months. If there are a number of similar properties that have sold recently, the appraiser's job is easy. It is more complicated to arrive at the appraised value if your home is located in a rural area or a diverse neighborhood.
The appraised value will usually be very close to the sale price. If the appraisal comes in lower, the real estate agent may be able to provide the appraisers with additional information on recent sales which will result in increased value.
Where is the world's largest wine cellar, and how big is it?
A
A company in the center of the wine-growing district of South Africa has a cellar that covers an area of 54 acres and has a capacity of 27 million gallons.
Jan Jackson & Associates Keller Williams Realty Northeast 20665 West Lake Houston Parkway Kingwood, Texas 77346 Cell: 281 851-4438 Toll-free: 800 496-1202 Fax: 281 812-8760 Relocation Hotline: 281 812-8780 Email: Jan@HoustonRelocation.com
I am an experienced member of the Keller Williams team. I am committed to my clients and provide consistent, professional, and friendly service. Traditionally, clients who have worked with me have been most pleased with my assertiveness. I believe in honesty and I am committed to complete satisfaction. My work as your Realtor is not complete until everyone is completely satisfied.
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