12/07/2021
For those of you who don't know, I worked as an English teacher for ten years. This is my first
year outside of the classroom, and it has honestly been wonderful! Teaching is still a huge part of who I am, so I can't help myself…. I'm going to regularly share key terms in real estate (pop quiz coming soon 🤫).
Some terms, you may know; some, you may not. Either way, I hope you learn something!
An appraisal is a key component to any real estate
transaction- especially for ones where a lender is involved. A licensed appraiser determines a property's value without bias. Different factors, such as location and condition, are taken into consideration when determining the property's
value.
In today's market, numerous buyers are falling into an “appraisal gap," which happens when a seller's list price or buyer's offer is more than what the property is worth. In that light, it's best to work with a realtor you trust and who has your best interests at heart.
