So you found the right home, beat out the other buyers and won. Now the bank orders an appraisal, and it comes back at exactly the price you agreed to pay. That means the house is worth exactly what you paid for it, right? Not necessarily.
In this quick video, I explain something a lot of buyers don’t realize: the appraiser already knows your purchase price before they ever walk in. They still have to support their opinion with comparable sales and market data, but the appraisal’s main job is to tell the lender whether the home supports the mortgage. That isn’t the same as telling you what the home is truly worth.
Curious what your home would sell for in today’s market? Call or text me at 978-494-0346.
