Home Appraisals Explained: What Buyers and Sellers Should Know
Whether you’re buying or selling, the appraisal is one of those moments that can quietly make—or break—a deal. It’s also one of the most misunderstood parts of the process. So what actually happens during an appraisal, and how can you prepare for it? Here’s what you need to know. What Is a Home Appraisal (and Why It Matters)? A home appraisal is an independent estimate of a property’s market value, typically required by a lender before approving a mortgage. In simple terms: The lender wants to make sure the home is worth what the buyer is paying. If the appraisal…