Business profile for Process Solutions in Durango, Colorado. Infofree.com offers unlimited sales leads, mailing lists, email lists.
An appraisal is an unbiased professional opinion of a home's value. Appraisals are almost always used in purchase and sale transactions and commonly used in refinance transactions. In a purchase and sale transaction, an appraisal is used to determine whether the home's contract price is appropriate given the home's condition, location, and features.
Definitions of the Terms and Concepts of Reverse Mortgages. Appraisal: As with any mortgage, an appraisal is required. An appraisal is the process of inspecting a homeâs condition and assessing the market value of the home. Typically the borrower pays for the appraisal as part of their closing costs.