No two homes are alike. For this reason you will need to have your new home appraised before the lender approves your mortgage loan. So, what exactly is an appraisal? An appraisal is a judgment of worth by a professional. The appraiser will visit your home and inspect the size, condition, quality and function. The appraiser will then produce a detailed report using comparisons to the sale prices of similar homes in the area, determining the value of your home. Continue reading →