Remove Lending Remove Loan Officers Remove Market Value Remove Reconsideration of Value
article thumbnail

New Homebuyer’s Guide To Appraisals

Birmingham Appraisal

A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Lenders, including banks and mortgage companies, require an appraisal to justify the loan they are making. This form is what is used by most lending institutions for residential properties. What is a Mortgage Appraisal? Appraisal vs Home Inspection.

article thumbnail

The Housing Market Has Become Like the Pymatuning Spillway

Cleveland Appraisal Blog

Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. Does this seem healthy to you?