Residential Appraisal

A residential appraisal is an unbiased assessment of a home's value, typically conducted by a certified appraiser. This process involves inspecting the property, evaluating its condition, and comparing it to similar homes in the area (known as "comps"). Appraisals are commonly required during real estate transactions, refinancing, or when securing a mortgage to ensure that the property's value aligns with the loan amount. The appraiser provides a detailed report that helps buyers, sellers, and lenders understand the fair market value of the home, ensuring informed decisions in real estate transactions.