All About Appraisals

What is an Appraisal?

An appraisal is an unbiased professional opinion of a home’s value. It’s required when a mortgage is involved in buying property and conducted as part of the loan process. A bank-appointed appraiser will be scheduled by your lender to evaluate the property’s value based on various factors such as location, condition, and recent sales of similar properties in the area.

The appraisal is an objective assessment and not influenced by personal preferences or emotions.

How is your Thrive Advisor involved in the Appraisal process?

Generally, the Seller’s Agent may proactively gather comparable properties (comps) that support the seller’s price position to help justify the value of the property based on recent sales in the area.

The Buyer’s Agent generally does not have a role to play in this process.