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All agents are NOT alike! Find out why I am a top real estate expert. Call me: 503-361-7150.

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Real Estate Tips
About Appraisals >Lender Appraisal

Many sellers think that the price of their home is determined solely by what they are willing to accept and what the buyer is willing to pay. However, there is one more variable that can affect the sale of a home assuming that a bank loan is involved -- the lender's appraisal.

To protect the interest of their investors, the buyer's mortgage lender hires a licensed appraiser to give an independent, objective opinion of what the property is worth. The appraiser compares the house with similar homes in the neighborhood that have recently sold. Square footage, amenities and the condition of the home are taken into account. Renovations and home improvements made by the seller usually add value to the home, while defects such as needed repairs or code violations decrease the property's value. The seller's real estate agent can provide the appraiser with up-to-date information about neighboring homes that have sold to support the seller's asking price.

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Real Estate Trivia
Q 
Upon completion this year, what will be the tallest residential building south of New York and east of Chicago?

A 
Located in Biscayne Bay, Florida, the $120 million, 51-floor luxury condominium will be called The Santa Maria.
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Angie Karp, REALTOR®, real estate agent and broker for West Salem, Salem and Keizer, Oregon home listings, property and land for sale - NUMBER1EXPERT(tm)

Angie Karp
Coldwell Banker Mountain West

615 Commercial Street NE
Salem, OR. 97306
Phone: 503-361-7150
Fax: 503-581-0198
Email: angiekarp@NUMBER1EXPERT.com

MLSREALTOR


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