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What is an Appraisal?

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A real estate appraisal is a professional assessment of a property's value. It's a crucial part of many real estate transactions, including:

  • Buying a home: The lender requires an appraisal to ensure the home's value justifies the loan amount.

  • Selling a home: An appraisal can help you set a realistic asking price.

  • Refinancing a mortgage: Lenders need to know the current value of your home to determine the loan amount.

  • Divorces and estate settlements: Appraisals help divide assets fairly.

  • Insurance claims: Appraisals can determine the value of damaged property.


Would you like to learn more about Real Estate? Have you ever wanted to become a New Jersey Real Estate Salesperson License holder? Want to know more about being a New Jersey Licensed Real Estate Agent? Click on the link for the schedule of our upcoming classes for Real Estate: tocrres.com




tan house with brown trim
tan house with brown trim

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