Business profile for Process Solutions in Durango, Colorado. Infofree.com offers unlimited sales leads, mailing lists, email lists.
An appraisal is an unbiased professional opinion of a home's value. Appraisals are almost always used in purchase and sale transactions and commonly used in refinance transactions. In a purchase and sale transaction, an appraisal is used to determine whether the home's contract price is appropriate given the home's condition, location, and features.
Another home appraisal function is to help set your downpayment amount on a purchase. Mortgage lenders use home appraisals as the value portion of the your mortgage's loan-to-value (LTV) calculation, where value is equal to the lower of your home's purchase price or its appraised value.y definition, appraising a home is the act of assigning monetary value to a property; determining its fair market value. For today's home buyers, a home appraisal helps to determine whether you're over-paying for a home relative to similar for-sale homes, or getting a good price.