{"id":2944,"date":"2025-03-28T14:54:48","date_gmt":"2025-03-28T18:54:48","guid":{"rendered":"https:\/\/www.beingbobblog.com\/?p=2944"},"modified":"2025-03-28T14:54:51","modified_gmt":"2025-03-28T18:54:51","slug":"all-about-home-appraisals","status":"publish","type":"post","link":"https:\/\/beingbobblog.com\/happy-holidays\/all-about-home-appraisals\/","title":{"rendered":"All About Home Appraisals"},"content":{"rendered":"\n<figure class=\"wp-block-image alignleft\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/content.outboundengine.com\/uploads\/original\/56151\/4o6b6kgO-gB6QQrHCmdLkUGBbVh_YRzOa-NndIV_uKM.png?w=640&#038;ssl=1\" alt=\"article-content\"\/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>Home appraisals often get confused with home inspections \u2014 and while both play an important role in the home buying process, they aren\u2019t very similar.<\/p>\n\n\n\n<p>During an inspection (which is optional), the property\u2019s systems and structure are evaluated. The inspector will highlight deficiencies, safety hazards or repairs that may need to be addressed before you buy the home.<\/p>\n\n\n\n<p>Appraisers, on the other hand, assess the value of a home to ensure your loan amount is appropriate. If you\u2019re paying for the house with a mortgage, this process is mandatory.<\/p>\n\n\n\n<p>Here are some other things to know about appraisals.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">They\u2019re done by a professional appraiser<\/mark>.<\/strong> Appraisals are conducted by professionals specifically trained in real estate valuation. A subset of appraisers have approval to appraise properties for FHA and other government loans.<br \/><\/li>\n\n\n\n<li><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\"><strong>Physical assessments aren\u2019t always included.<\/strong> <\/mark>Some appraisals are done via an in-person physical evaluation of the house. There are also drive-by appraisals based on the home\u2019s exterior and desktop appraisals, which are data-based \u2014 using property records and local sales data to determine value.<br \/><\/li>\n\n\n\n<li><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">An appraisal could impact your mortgage amount.<\/mark><\/strong> Lenders want to be certain they can break even if the home goes into foreclosure and they have to sell it. Because of this, you won\u2019t be able to borrow any more than the home\u2019s total appraised value.<br \/><br \/>If a home\u2019s appraised value comes in lower than what you\u2019ve offered for it, you\u2019ll either need to make up the difference out of pocket, renegotiate with the seller or back out of the transaction.<br \/><\/li>\n\n\n\n<li><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">It\u2019s included in your closing costs<\/mark><\/strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\"><strong>.<\/strong> <\/mark>Buyers pay for appraisals as part of their closing costs. The exact fee varies, but it\u2019s usually a few hundred dollars.<\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/HowardHanna.com\/camillus\" data-type=\"URL\" data-id=\"https:\/\/BobKratz.HowardHanna.com\">Reach out<\/a> if you have questions about appraisals or any part of the home buying process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home appraisals often get confused with home inspections \u2014 and<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5,12,13,6,9],"tags":[],"class_list":["post-2944","post","type-post","status-publish","format-standard","hentry","category-all-posts-comments","category-events","category-listings","category-real-estate","category-technology"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","chromenews-featured":"","chromenews-large":"","chromenews-medium":""},"author_info":{"display_name":"Being BOB","author_link":"https:\/\/beingbobblog.com\/happy-holidays\/author\/admin\/"},"category_info":"<a href=\"https:\/\/beingbobblog.com\/happy-holidays\/category\/all-posts-comments\/\" rel=\"category tag\">All Posts &amp; Comments<\/a> <a href=\"https:\/\/beingbobblog.com\/happy-holidays\/category\/stuff\/events\/\" rel=\"category tag\">Events<\/a> <a href=\"https:\/\/beingbobblog.com\/happy-holidays\/category\/real-estate\/listings\/\" rel=\"category tag\">Listings<\/a> <a href=\"https:\/\/beingbobblog.com\/happy-holidays\/category\/real-estate\/\" rel=\"category tag\">Real Estate<\/a> <a href=\"https:\/\/beingbobblog.com\/happy-holidays\/category\/technology\/\" rel=\"category tag\">Technology<\/a>","tag_info":"Technology","comment_count":"0","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p822aG-Lu","_links":{"self":[{"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/posts\/2944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/comments?post=2944"}],"version-history":[{"count":0,"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/posts\/2944\/revisions"}],"wp:attachment":[{"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/media?parent=2944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/categories?post=2944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/tags?post=2944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}