Is an appraisal based on the purchase price or loan amount?
Is an appraisal based on the purchase price or loan amount? When it comes to appraisals, many homebuyers and sellers wonder if the value of a property is based on the purchase price or the loan amount. The truth is that an appraisal is based on the property’s fair market value, which is determined by …
Read moreIs an appraisal based on the purchase price or loan amount?