Are you thinking about buying or selling a home? Are you in the process of buying or selling? This is written for those who are buying or selling a home and want to know the role of the appraisal in the home buying process. Unless someone is able to pay cash for their home most home purchases involve a loan from a lending institution. Lenders require an appraisal of the property. Here are some things to understand about the appraisal: 1. What is an Appraisal? The Apprai

Are you considering buying a home that is located near rail road tracks? Do you live by rail road tracks? Does this affect the value of your home? When appraising real estate location is always a factor that is considered. If a property is located next to an active rail road track this would be an external factor and its impact would need to be considered when valuing a property. Would it be considered an external obsolescence? The Dictionary of Real Estate Appraisal defi