9/27/2023 0 Comments Mortgage calculator mobile homeThe appraiser will inspect both the interior and exterior of your home and will then compare the qualities of your home with other homes that have sold recently in the same neighborhood. The appraiser will create a written report for us and you'll be given a copy prior to your loan closing. In addition, most states now have licensing requirements for appraisers evaluating properties located within their states. National standards govern not only the format for the appraisal they also specify the appraiser's qualifications and credentials. An appraisal report is a written description and estimate of the value of the property. To determine the value of the property you are purchasing or refinancing, an appraisal will be required.
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