James Walrod – Senior Loan Officer, NMLS 260324 Veterans United Home Loans
Things a buyer and seller should know about a real estate appraisal:
There are 3 types of appraisals – VA, FHA, and Conventional depending on the type of mortgage that you are applying for.
The appraiser is looking at safety, security and soundness of the property to determine the value. They are making sure that the house is livable and functional. It can be ugly and old but it does have to be move-in ready for the buyer. All systems should be in working order.
They determine the value by comparing to at least 3 recently sold properties that are similar within 1 mile.
James Walrod with Veterans United Home Loans is also a supporter of this podcast! Please reach out to him if you have any other questions about mortgages, real estate or appraisals.
Phone (757) 274-3444
Email James Walrod
564 Lynnhaven Parkway, Ste 200
Virginia Beach, VA 23452
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James Walrod – Veterans United Home Loans
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