The Appraisal Contingency

The appraisal of a property’s value has become a regularly used residual service by homebuyers in the real estate process. However, it can become a tool that is tossed by the wayside in a hot market — and that’s not very wise when it comes to the largest investment most consumers will ever make.

The appraisal serves various purposes in a transaction for several people. It acts as a financial compass, as it were, for everyone that has a monetary stake in the property value — the seller, the buyer, the lender, and the insurance company.

 

Written By: M. Anthony Carr. If you would like to continue reading, click here.

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