GETTING A HOME APPRAISAL: WHAT YOU NEED TO KNOW
Have you ever watched “Antiques Roadshow?” If you haven’t, it’s a show on public television where people bring items down to the Roadshow. People who value art, furniture, and other items are there. These people take a look at the items brought in, and give that item a value of what it’s worth: an appraisal. Home appraisals work in a similar way.
When you buy a home and you’re receiving a loan, your loan officer will order an appraisal on the property. This is to estimate the value of the home. But what all factors affect the value? Check out this handy infographic from The Lending Expert Blog to find out more about home appraisals.
Is there anything missing from this infographic that you found helpful? Let us know in the comments section! WE WANT TO HEAR FROM YOU!