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Providing real estate appraisal services since 1999 with an array of experience in property appraisals that includes Divorce, Estate, Bankruptcy, Tax Appeals, Pre-Listings, Pre-Purchase, FSBO and more. The post FHA AppraisalTip – Low Water Pressure appeared first on Chicagoland Appraisals.
You Might Overpay for the Property One of the biggest risks of accepting an appraisal waiver is that you could pay more for the home than its actually worth. Heres why: When a traditional appraisal is waived, the lender determines the homesvalue using automated valuation models ( AVMs ) instead of an appraisers independent analysis.
Increasing your property value through renovations or home additions, and paying off your mortgage, seem like the most straightforward ways to build equity. But there are also some factors that determine what your house is worth that are out of your control, like the location and popularity of the particular housingmarket.
I came across a Facebook post from an appraiser friend of mine about an article written in the Chicago Tribune titled Homebuyers who pay cash win deals as appraisals derail sale in tight Chicago market. The title is definitely eye-catching especially to an appraiser in Chicago.
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