What is an Appraisal? #shorts

An appraisal is a professional assessment of your property's value by a licensed appraiser, considering factors like location, size, and market trends. But why is it crucial for the appraisal to match the agreed-upon purchase price?

📊 Mortgage Approval: Lenders base their loan amount on this appraisal. If it matches or exceeds the purchase price, your loan is likely to be approved.

💡 Protecting the Buyer: Ensures you're not overpaying and making a sound investment.

🏠 Market Stability: Helps prevent inflated prices and maintains a healthy housing market.

👉  Want to know more? Drop your questions in the comments! 



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