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Get Ahead of Appraiser Required Repairs: How Sellers Can Avoid the Most Common Closing Killers

HomeLight

Before properties can be financed, their value and condition is typically examined by a state-licensed, independent appraiser contracted by the buyer’s mortgage company. These are standards related to the overall condition of a property which will play a role in the willingness and/or ability of a lender to finance a buyer’s loan.

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Will My House Appraise for Its Selling Price? 10 Tips to Steer Clear of a Low Valuation

HomeLight

Whenever a buyer is financing the purchase of a home or refinancing a mortgage , an appraisal of the property is required in order to assure the lender that the value of the property matches the amount of the loan, according to the Appraisal Institute , the nation’s largest professional association of real estate appraisers.