Appraisals are an important part of real estate transactions, whether buying or selling, and can make or break a deal. Yet there can be a lot of mystery and confusion around them, particularly among buyers and sellers who aren’t familiar with the process.
Common Real Estate Appraisal Questions
Have you had questions about the appraisal process or maybe received questions from your clients? You probably wish you had a quick reference for yourself and to share with your clients to answer questions like:
What is a credible appraisal?
What is the appraisal process like?
What are the elements of a credible appraisal?
Why is appraisal independence important?
How to you address a needed correction in an appraisal report?
Co-branded by NAR and The Appraisal Foundation, this Guide to Understanding a Residential Appraisal is available for agents to download and provide to clients to help understand the process and answer common questions.