Port St Lucie Mortgage Experts (772) 340-4003 - Mortgage Appraisals and Appraised Value
16706
page-template-default,page,page-id-16706,ajax_fade,page_not_loaded,,qode-child-theme-ver-1.0.0,qode-theme-ver-17.0,qode-theme-bridge,wpb-js-composer js-comp-ver-5.5.5,vc_responsive
 

Property Appraisals

Mortgage Appraisals and Appraised Value

 

mortgage appraisal - property appraisal - happy family waving hands in front of home

 

The property appraisal is not intended to derail a home purchase. In fact, the mortgage appraisal can function as a consumer protection for a buyer, being an independent, third-party report documenting the market value of a home after careful consideration of comparative sales, the location, visual appearance and condition of the property.

 

This document highlights conditions in a property that the appraiser may note when completing the property appraisal.

 

Minor Conditions and Deferred Maintenance

 

The property appraisal can be completed in “as is” condition as long as minor conditions and any deferred maintenance do not affect the livability, soundness, or structural integrity of the property, and the appraiser’s opinion of value reflects the existence of these conditions.

 

  • Worn floor finishes
  • Holes in window screens
  • Worn interior paint
  • Cracked window glass
  • Minor plumbing leaks

 

Conditions Requiring Additional Inspections and/or Repairs

 

Property conditions that would require inspections and/or repairs are items that could affect the livability, soundness, or structural integrity. Conditions that would require additional inspections – and possible repairs as a result of the inspections – are outside of the expertise of the appraiser to estimate costs or to determine the extent of the deficiency. Dependent upon the loan program and guidelines, these repairs may need to be made prior to closing. Please discuss any of these property conditions with your loan officer.

 

  • Cracks or settlement in the foundation
  • Water seepage
  • Active roof leaks
  • Evidence of mold contamination
  • Curled or cupped roof shingles, missing shingles or tiles
  • Inadequate electrical service of plumbing leaks
  • Evidence of termite infestation
  • Chipped or peeling exterior paint

 

Secondary investors hold the appraiser and lender’s underwriter responsible for determining if the property is adequate collateral for the loan after evaluating the property condition, location and market value.

 

The decision to accept or reject a property will depend on the type of loan, the availability of data and support provided by the appraiser included in the appraisal report.

 

More Information about owning a home and a home mortgage

 

Consumer Financial Protection Bureau
Owning a Home

CALL NOW 772-340-4003

Port St Lucie Mortgages, VA Home Loans & Mortgage Refinancing throughout the Treasure Coast and all of Florida

Port Saint Lucie • Fort Pierce • Sebastian • Stuart • Vero Beach • Sewall's Point • Palm City • Jensen Beach • Hobe Sound • Lakewood Park • Port Salerno • Fort Pierce South • White City • North River Shores • & serving all the great state of Florida

Palm Beach Mortgages, VA Home Loans & Mortgage Refinancing throughout Palm Beach County and all of Florida

West Palm Beach • Boca Raton • Boynton Beach • Delray Beach • Wellington • Jupiter • Palm Beach Gardens • Greenacres • Lake Worth • Royal Palm Beach • Riviera Beach • Palm Springs • Belle Glade • North Palm Beach • Lantana • Palm Beach • Lake Park • Pahokee • Tequesta • South Bay • & serving all the great state of Florida

Broward Mortgages, VA Home Loans & Mortgage Refinancing throughout Broward County and all of Florida

Fort Lauderdale • Pembroke Pines • Hollywood • Miramar • Coral Springs • Pompano Beach • Davie • Plantation • Sunrise • Deerfield Beach • Lauderhill • Weston • Tamarac • Margate • Coconut Creek • Oakland Park • North Lauderdale • Hallandale Beach • Lauderdale Lakes • Dania Beach • & serving all the great state of Florida

Miami Mortgages, VA Home Loans & Mortgage Refinancing throughout Miami-Dade County and all of Florida

Miami • Hialeah • Miami Gardens • Miami Beach • Homestead • North Miami • Coral Gables • Doral • North Miami Beach • Cutler Bay • Aventura • Miami Lakes • Palmetto Bay • Hialeah Gardens • Sunny Isles Beach • Pinecrest • Opa-locka • Miami Springs • Sweetwater • Key Biscayne • & serving all the great state of Florida

Florida Mortgages, VA Home Loans & Mortgage Refinancing throughout all the great state of Florida

Jacksonville • Tampa • St. Petersburg • Orlando • Tallahassee • Cape Coral • Gainesville • Clearwater • Lakeland • Deltona • Largo • Melbourne • Fort Myers • Daytona Beach • Kissimmee • North Port • Ocala • Port Orange • Sanford • Pensacola • & serving all the great state of Florida