Bif Ward Real Estate Group

F.C. Tucker Company, Inc.

First-Time Homebuying

The Appraisal

An appraisal is a written report comparing the condition and features of a particular property with others of a similar nature. Its purpose is to produce a professional estimate of the market value of the property. Virtually every mortgage lender requires an appraisal performed by a licensed appraiser. The property must appraise for at least the amount of the purchase price, or the lender will not extend financing. When you apply for a mortgage, your loan officer will immediately want to see a copy of your signed purchase agreement, and then he/she will order an appraisal.

 

Next>  "The Survey"

The Buying Process

Glossary of Terms

 

 

Bif Ward Real Estate Team

The #1 Agent at Indiana's #1 Real Estate Company
9279 North Meridian Street • Indianapolis IN 46260

24Hour VM: (317) 580-7871 • Mobile: (317) 590-7871• Fax (317) 524-0645 • Bif@TalkToTucker.com