Everything You Need To Know About Appraisals: (House, Mortgage, Buying a Home) - SnL Show
Channel: Sackin-Stone Team
Date: 2021-05-26

An appraisal is an estimate of a home's market value. It is usually needed for refinancing, buying a new home, or other major purchases. Here are some things you need to know about appraisals including how they work and what information the lender requires from you before approving your loan.

Join Scott and Lane (SnL) as they discuss everything you need to know about appraisals.

Questions we answer in today's show:
1. What is a home appraisal?
2. Explain the difference between an appraisal and a home inspection
3. Explain removing the "appraisal contingency" 
4. What happens if the appraisal comes in low and...
The buyer removed the appraisal contingency 
4a. The buyer did NOT remove the appraisal contingency
5. What happens if the appraisal comes in higher than the contract price?
6. Is there any "game-playing" to watch out for with buyers when it comes to appraisals?
7. Anything sellers can do to avoid potential game playing?

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Healthy Home Checkup List Part 2: https://youtu.be/zMZ-ch4PZDI

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