A new home buyer or first-time seller may be confused by all of the real estate terms and acronyms they encounter. One of these may be the appraisal. The appraisal is when the licensed appraiser comes to the property, takes pictures, measures the floorplan, and writes up a report for the lender. This report will include what they believe the value of the property is worth. This is the number that the lender or bank will use to make sure they are secure in this investment. Buyers use this appraised value to insure that they are not over paying for the home. If an appraisal comes back lower than what the contracted price is, then it may be possible for the seller and buyer to negotiate a price that is agreeable to both parties. Your real estate professional should guide you though this process and protect your best interest. The Realtors at Pinyon Properties are here to guide you through the process of your purchase or sale. Give us a call if you are needing real estate assistance in Boulder City, Henderson, or Las Vegas, Nevada. We are your one-stop-shop!
