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.
Appraisals are an important part of the homebuying process. A real estate appraisal establishes a property's market value â the likely sales price it would bring if offered in an open and competitive real estate market. Lenders require appraisals when buyers use their new homes as security for their mortgages. An appraisal provides the lender with assurance that the property will sell for at least the amount of money it is lending. Don't confuse a comparative market analysis, or CMA, with an appraisal. A CMA is a sales report based on data entered into the multiple listing service, or MLS.