Real Estate Appraisals 101
Today we hear more and more about appraisals as part of the real estate process. Tough markets, like the one in which we find ourselves today, bring the subject to the forefront more so than in times of booming sales and bidding wars.
In fact, these days, more often than not appraisals can be one of the biggest roadblocks to a successful purchase – or sale – of a home. Why is that? What makes an appraisal so critical? And while we're at it, just exactly goes into an appraisal?