Appraisal ordered

We have ordered the appraisal. The appraiser, using recent comparable sales, will let us know what the value of the home is. The requirements are usually that the ‘comps’ be no older than 3 months, but sometimes due to a lack of data the appraiser uses older comps. The final value is determined by looking at square footage, numbers of bedrooms and bathrooms, condition, location, parking, floor plan, fireplaces, lot size, and more. The value of a home is ultimately what a buyer is willing to pay for it. That value must be justified to the bank providing the financing, which is done with an appraisal. We will let you know when the appraisal is in, and what the value is. You will ultimately get a copy of the appraisal from us.