Educational answer
Closing and Homeownership
Why is an appraisal required?
Sources researched September 13, 2026
Educational answer
An appraisal provides an independent opinion of the property’s value for the financing decision. Review the report and ask how the valuation affects your proposed financing. It is not a promise about the home’s future resale price. An appraisal also does not replace a separate inspection of the property’s condition.
Attribution: Site-prepared educational answer
Sources
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