Home Appraisal process and its significance
What is an appraisal? An appraisal is a process of estimating the fair market value of the property. An appraisal is done by an appraiser, a licensed third party professional. An appraisal is an important part of the home buying process and in some refinance transactions or buying a second mortgage. Lenders need appraisal of the home to make sure their finance is protected before issuing a mortgage loan. The home acts as a collateral for the mortgage. The home appraisal value