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About Appraisals >Professional Appraisals
Before your mortgage application is approved, the lender will order a professional appraisal of the home to make sure that the agreed-upon selling price is justifiable based on the current market value of the property. The cost of the appraisal will be based on the complexity of the appraisal report and the time required to complete it.
A professional appraiser will choose the appraisal technique that is applicable to the particular property to arrive at an unbiased opinion of value. One approach is to look at comparable homes in the area that have sold within the last six months. If there are a number of similar properties that have sold recently, the appraiser's job is easy. It is more complicated to arrive at the appraised value if your home is located in a rural area or a diverse neighborhood.
The appraised value will usually be very close to the sale price. If the appraisal comes in lower, the real estate agent may be able to provide the appraisers with additional information on recent sales which will result in increased value.
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| Q |
In what U.S. home can you find the world's largest refrigerator magnet collection?
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| A |
Louise Greenfarb of Las Vegas, Nevada has 35,000 unique fridge magnets that she has been collecting since the 1970's. |
See More Real Estate Trivia > |
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The Coveny Team RE/MAX Prestige 410 Robert Parker Coffin Road Long Grove, IL. 60047 Phone: 847-634-6300 Fax: 847-634-6266 website: www.covenyhomes.com Email: susan@covenyhomes.com
The Susan Coveny Team assists their clients by focusing on these seven priorites:
1. Providing Quality Service
2. Providing Professional Advice
3. Delivering a Successful Market Plan through Innovation
4. Addressing the Customer's Individual Needs
5. Team Work
6. Meaningful Communication
7. Continual Professionalism
Legal Disclaimer - No Liability: RE/MAX Prestige, Susan Coveny, Coveny Team, its agents or employees shall not be held liable to anyone for any errors, omissions or inaccuracies under any circumstances. The entire risk for utilizing the information contained on this website or linked to this website, rests solely with the users of this website. The information is subject to inspection and verification by all parties relying on it. No liability for its accuracy/inaccuracy, errors, or omissions is assumed by the sellers or their agents. These listings may be withdrawn or modified without notice at any time. Information Not Warranted or Guaranteed: The official Susan Coveny and Coveny Team website and all pages linked to it or from it, are PROVIDED ON AN "AS IS, AS AVAILABLE" BASIS. Coveny Homes - Susan Coveny MAKES NO WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THOSE OF MERCHANTA BILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO ANY INFORMATION OR USE OF INFORMATION CONTAINED IN THE WEBSITE, OR LINKED FROM IT OR TO IT.        

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