Lenders don’t wish to be stuck (hotels in seattle) with home….
March 9th, 2010
Lenders don’t wish to be stuck with home that is not valued at what you expect to pay for it, thus the appraisal should be completed before the financial institution will authorize the loan.
An appraiser starts by looking at you neighborhood and find comparable homes that may have sold recently, characteristics of lifestyles, income level in the area, average age, and surrounding home values.
