Whether you’re buying a house outright or you’re getting a mortgage, home appraisals are an important part of the process. They provide important information about the home value. They help make sure houses are closed with everyone satisfied.
They also make sure buyers don’t spend too much on a house. If an appraisal is much lower than a bid, lenders may even decrease the amount they’re willing to give buyers.
Keep reading below to learn more about how important appraisals are, and how they can help you bid smartly on a home. Continue reading