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Appraisal Contingency Addendum PDF Form

Appraisal Contingency Addendum PDF Form

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so what's an appraisal contingency and why does it matter let's walk through what an appraisal contingency is and the reasons why we think it's probably a good idea to have one first let's just be clear on what an appraisal actually is it's not an inspection to discover everything that's wrong with the house an appraisal is a professional valuation done on your home and performed by a licensed appraiser so the first thing is they're going to carry out a detailed inspection of the interior and exterior of the house and then second is that they're going to research county records municipal records and even the mls to discover all right what are the comparable sales and other houses that are like yours in the area the reason this is vitally important is because lenders are going to base the amount of money they loan you on that appraised value of the property so if you're a traditional buyer in a pretty hot market it&

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