Purchasing a home is usually one of the largest investments a person can make. This is why it is absolutely critical that you take every detail into account in order to ensure that you are receiving the best possible deal. One of the best ways to do this is by requesting an appraisal of the house, which, essentially, allows you to determine the fair market value of the home. If you are a veteran and are purchasing a home with a loan backed by the Department of Veterans Affairs (VA), an appraisal is mandatory. While appraisals help in giving buyers as much knowledge possible in order to make an informed decision, are they always accurate? What if you wanted to challenge that appraisal because you think it’s a bit unfair? Well, today’s blog will provide some tips on how to do just that.
Get Your Information Straight
When requesting an appeal, you aren’t exactly simply asking for a “re-do”; you must present proof that shows that the original appraisal was, in fact, erroneous. In order to do this, you must get all of your information in order and comb over every piece of it. Once you’ve been given the appraisal report, you must read over it in its entirety and create an airtight case, otherwise, you risk wasting your time. Some of the most common mistakes are those related to square footage and additions and renovations that can positively or negatively impact the property’s value.
The rest of this article can be found on Michael Fourte’s website