The Home Purchase Appraisal

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Buying a home is one of the most significant financial and personal decisions you'll ever make. It can be a thrilling yet stressful journey, and we at Harmony Appraisal understand that. We believe that understanding each step of the way is key to feeling confident in your purchase. That's why we're here to walk you through the appraisal process—making it as transparent and stress-free as possible. 

Simply put, a home appraisal is an unbiased, professional opinion of a property's market value. It's a critical step in the home buying process, especially if you're getting a mortgage. Your lender requires an appraisal to ensure the home's value is at least equal to the amount you're borrowing. This protects both you and the bank from overpaying for the property.

We want you to know exactly what to expect. Here’s a look at the typical appraisal process with Harmony Appraisal:

1. The Request: Once you're under contract on a home and the lender has a loan application and signed purchase agreement, they will order the appraisal. The lender chooses a qualified appraiser from their approved list, and since they can’t be tied to the sale, we are a neutral third party. We'll then be assigned to your case and begin our work.

2. The Inspection: We'll schedule a time to visit the property. This isn't a home inspection—we're not looking for a leaky faucet or a faulty roof. Instead, we'll measure the home's exterior and sketch a floor plan to calculate the gross living area. We also note the number of bedrooms, bathrooms, and the overall condition of the property. We'll also take photos of the interior and exterior to document the home's features and condition. This is also the time to let us know about any upgrades you may have made to your home and when they were done.

3. The Research: After our visit, we get to work on the most crucial part: the research. We use our deep knowledge of the local real estate market to analyze recent sales of comparable homes (comps) in the area. We consider factors like square footage, lot size, age, condition, and any upgrades. We make careful adjustments for any differences between the comp and the home you are purchasing.

4. The Report: We then compile all of our findings into a detailed appraisal report. This document is a formal, well-supported valuation of the property's market value. It explains our methodology and includes all the supporting data, so you can see exactly how we arrived at our conclusion. The report is confidential and is sent directly to your lender.

We know you have a choice, and we want to be your trusted partner in this significant milestone. Our appraisers are experts in the local market and committed to providing accurate, reliable, and timely valuations. We stand out because we offer:

• Market-Supported Valuations: Our reports are backed by solid data and thorough analysis, giving you confidence in the home’s value.

• Transparent Communication: While we work directly with your lender, we believe in a transparent process. We are always available to answer questions about the process...with a smile!

• A Focus on You: We know this is your dream home. Our goal is to make sure your journey is as smooth as possible by providing a professional, unbiased valuation that helps you move forward with confidence.

We know how overwhelming this process can be, and we're here to offer a little bit of peace and harmony during an exciting and busy time! Our goal is to provide a smooth, professional appraisal process that gives you the information you need to bring you peace of mind. If you have more questions or are ready to get started, please don't hesitate to contact Harmony Appraisal. We're here to help.