Why do I need an appraisal when I buy a house?

If you are buying cash you may decide not to have an appraisal, however do you want to overpay for your home? If you are borrowing money the lender will generally insist on an appraisal.

• The appraisal is important for the mortgage company. If the property does not appraise and you need financing unless the seller renegotiates or the buyer increases the down payment the deal will likely not go through.

• The appraisal determines the estimated market value of the property

If you are interested in Buying or Selling this tool is really helpful

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Your real estate agent should be able to answer these questions for you.

Feel free to reach out to us at The LR Group

Broker Associate

Allister Lenn, PA

Tel: 407-593-8234

www.homesinlakenona.com

allister.lenn@gmail.com