When the time comes for you to buy a new home, there are a lot of things that need to be taken care of. At the top of your list should be having your new home properly appraised by Cornerstone Appraisal Services.
When you get an accurate value of the equity in your new home, you will be protecting yourself by preventing yourself from borrowing too much money against the home's value and risking financial trouble.
There are two main approaches used when appraising a property: the cost approach and the value approach. And at the end of the day, you'll find that the value approach provides the most important factor towards securing your financing. After all, you can have the greatest property in the world but if it won't sell, it isn't worth investing in.
The value of your home is decided by comparing your property to other similar properties in the area and using an average to come up with a medium appraisal value for your home. Call us today to learn more about our mortgage appraisals.