Home Appraisal Red Flags

The Real Estate Journal recently ran an article (Home-Appraisal Red FlagsIn a Cooling Housing Market) that outlined questions that you should ask yourself when determining the validity of a home appraisal:

  • Does the stated home value seem reasonable, given what you know about the neighborhood?
  • When the appraiser cites comparable home sales, is he focusing on nearby houses?
  • Does the appraisers’ description of the house match what you know?
  • Will the lender give you a copy of the appraisal?
  • Is the appraiser licensed and/or certified?

What should you do if you don’t like your answers to any of these questions? Well if you’re a home buyer considering contacting an exclusive buyer agent. They have been through this before, they know your market, and they will have your best interests at heart.
Category: How to Buy a Home

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