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The appraisal can help the lender learn about the value of homes in your neighborhood, as well as how you’ve maintained the property. Why do lenders require home appraisals for a refinance?
A Uniform Residential Appraisal Report or URAR is one of the most common forms used in United States real estate appraisals.It was created to allow for standard reporting and analysis of single-family dwellings or single-family dwellings with an "accessory unit".
The Appraisal Foundation (TAF) is the United States organization responsible for setting standards for the real estate valuation profession. The organization sets the congressionally authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals.
Uniform Standards of Professional Appraisal Practice (USPAP) can be considered the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States and its territories. USPAP, as it is commonly known, was first developed in the 1980s by a ...
Home equity loans. With a home equity loan or line of credit (HELOC), you take on an additional loan or line of credit rather than replace your mortgage. If you have a stellar interest rate right ...
The appraisal gives the lender a sense of how you’ve maintained the property, and how it compares to other similar homes in your area. Lightbulb Bankrate’s take: An appraisal can help you, the ...
In Germany, real estate appraisal is known as real estate valuation (Immobilienbewertung). Real estate appraisers (Immobilienbewerter or Gutachter) can qualify to become a Öffentlich bestellter und vereidigter Sachverständiger (officially appointed and sworn expert). However, this formerly very important title has lost a lot of its importance ...
Appraisal: Your lender will want proof that your property is worth what you say. You can get a broker price opinion in some cases, but the lender will probably insist on an actual appraiser (it ...