The property review

Home Appraisal Basics

An appraisal gives the lender an independent opinion of value and information about the property. It is different from a buyer's home inspection.

Value is not simply the contract price

The appraiser considers the subject property, market data and appropriate comparable sales under applicable standards.

A home inspection can help a buyer understand condition and maintenance concerns. The appraisal primarily supports valuation and collateral review.

General information is useful. A mortgage professional can help you evaluate the facts that apply to you.