April 2019

4 Apr 2019

What’s a home appraisal?

home-appraisal
Buying a home is an exciting, scrapbook-worthy event, so of course it's going to come with a lot of emotions. But there's one step in the process where objectivity and rationality take center stage, and that's the home appraisal. It may seem harsh to let a stranger take a few laps around your home and boil your beloved abode down to a single number, but it's actually good to have this unbiased, emotion-free step in the process. Because the house itself is collateral in a mortgage, the bank or lender needs to make sure there's enough value in the house to recoup the investment if the buyer can't pay back the mortgage. Basically, the home appraisal is a way of protecting the bank from overinvesting in...
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