Before your mortgage application is approved, the lender will order a professional appraisal of the home to make sure that the agreed-upon selling price is justifiable based on the current market value of the property. The cost of the appraisal will be based on the complexity of the appraisal report and the time required to complete it.

A professional appraiser will choose the appraisal technique that is applicable to the particular property to arrive at an unbiased opinion of value. One approach is to look at comparable homes in the area that have sold within the last six months. If there are a number of similar properties that have sold recently, the appraiser's job is easy. It is more complicated to arrive at the appraised value if your home is located in a rural area or a diverse neighborhood.

The appraised value will usually be very close to the sale price. If the appraisal comes in lower, the real estate agent may be able to provide the appraisers with additional information on recent sales which will result in increased value.

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Stephanie & Randy Kelley
The San Antonio Home Quest Team
Keller Williams Legacy
1102 East Sonterra Boulevard, Suite 106
San Antonio, TX 78258-3999
(Stephanie Direct): 210-867-8743
(Randy Direct): 210-863-2661
(Toll Free): 800-201-9145
Fax: 210-493-4669
sanantoniohomequest@NUMBER1EXPERT.com

Stephanie & Randy Kelley have been top San Antonio producers and leaders each year since they entered the real estate profession. They pride themselves on their ability to make the real estate buying,selling and management process as effective and trouble free as possible. Their commitment to quality customer service and satisfaction is evident and can be attested to by many happy customers and clients. Call Stephanie or Randy today!!!