Why would a home appraisal be different from the asking price?
Because the asking price is a marketing choice, while an appraisal is an independent opinion of value used by a lender to support financing. A lender may order an appraisal to decide whether the property supports the mortgage amount, and that appraisal may be based on recent comparable sales, the home’s condition, location, and market trends. If the appraised value comes in lower than the agreed price, the buyer may need more cash, renegotiate, or walk away if the contract allows it.
If my last blog explained how homes are...

