Appraisal before or after selling your home?

What is an appraiser?

An appraiser is obviously carried out by an appraiser. The main purpose of the appraiser is to determine the current market value of a house based on various factors. The appraiser looks at the general state and condition of the house. The appraiser submits this information to the mortgage lender, who uses it to decide whether to grant a loan.

Difference between sales value and market value

If you want to buy or sell a property, you should always remember that there is a difference between market value and selling price of the property. The market value is a statistical estimate of the value of a property. A formal valuation can also be done for you for key by many estate agents. But only a valuation report indicates the true value of a property and is important when applying for a mortgage, for example. When a buyer signs a purchase contract, you will have to provide proof of the value of your home to the bank. This allows them to determine how much they will lend and how much. This way you qualify for:

The selling price of a home can differ significantly from the value assessed by the bank. A WOZ value, a comparable sales value or an estimated sales value is a statistical estimate. The selling price can be higher or lower than the WOZ value, depending on various factors that influence you to move quickly and whether you are looking for a particular location.

In conclusion, the answer to the question: An appraisal before or after selling your home is that a valuation report is mandatory for most mortgage applications and it is not feasible to do without one. If you are a buyer and want to apply for a mortgage, you will have to get an independent valuation of your property. Sometimes the mortgage lender will do this themselves. Otherwise, there are lenders who also offer this service, but they may charge costs. A broker can also give an indication of the value and what costs are involved.

Valuation mandatory for buying a house

Another point to consider when you want to answer the question: An appraisal before or after selling your home is that a valuation report is mandatory for mortgage applications and is a key factor in determining the maximum mortgage you can get. If you are a buyer and want to apply for a mortgage, you will have to get an independent valuation report of the property. Sometimes the mortgage lender will do this themselves. Otherwise, there are lenders who also offer this service, but they may charge costs. A broker can also give an indication of the value and what costs are involved.

Little difference purchase price and appraisal value

It is important that there is little difference between the purchase price and the appraisal value. If your purchase price is much lower or much higher than the value based on your income, but also on the value of your home. You often cannot borrow the full purchase price. This is because the mortgage is based on your income, but also on the value of your home.

For additional costs, you can often already count on 4% - and unless you have a starting point on the housing market - 2% transfer tax. If you don't have any money of your own, the mortgage might not go through.

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