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Appraisals 101: What to Expect From the Home Appraisal Process Wondering what to expect from your home appraisal? You've found a home you love, put down an offer you're excited about, and the closing date is fast approaching. Now it's time for the home appraisal. What is a Home Appraisal? Not a cent more.
Negotiating counteroffers. If the seller does not find the initial offer acceptable (e.g., because they feel the offer price is too low, too many repairs or inspections are requested, etc.), they may come back with a counteroffer. They may be surprised by a counteroffer. Inspections.
Step 5: Get an Appraisal on Your Ideal Property. Either way, it’s a good idea to consider getting an appraisal so you know how the true value compares to the asking price. An appraisal will help you get an objective estimated value, which you can compare to the bank’s asking price to see if the price is fair.
Negotiating a Purchase Price Again, the tax assessor's office can give you a ballpark figure around which offers and counter-offers can hover. Another measure of value -- land values, not home values -- is information derived from a raw land appraisal.
Consider hiring a professional appraiser for a more accurate valuation. Start by researching recent sales of comparable homes in your area. Online valuation tools can provide a starting point, but they may not account for recent upgrades or unique features of your property.
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