how-appraisers-determine-property-values

How Appraisers Determine Property Values

An appraiser’s job is to protect the interests of the mortgage company. Lenders want to be sure that if forced to foreclose on a property, they will be able to sell it for enough to cover the amount their customer borrowed. The appraised value of the home is also crucial to the buyer. If the appraisal of a piece of property comes back higher than the asking price of the house, the buyer is lucky enough to have instant equity in the home. Appraisers Run Comps Just like realtors, appraisers run comps when determining a home’s value. They look at

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