Home Buying Terminology - The Appraisal

Home Buying Terminology: An A-to-Z review of common terms you'll encounter during the home buying process.

Appraisal - An appraisal is a professional appraiser's estimate a property's current value. Appraisers will account for such factors as market conditions, characteristics of the property, upgrades and more. Most mortgage lenders will require you to have a home appraised before they will loan you money.

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