Many sellers think that the price of their home is determined solely by what they are willing to accept and what the buyer is willing to pay. However, there is one more variable that can affect the sale of a home assuming that a bank loan is involved -- the lender's appraisal.

To protect the interest of their investors, the buyer's mortgage lender hires a licensed appraiser to give an independent, objective opinion of what the property is worth. The appraiser compares the house with similar homes in the neighborhood that have recently sold. Square footage, amenities and the condition of the home are taken into account. Renovations and home improvements made by the seller usually add value to the home, while defects such as needed repairs or code violations decrease the property's value. The seller's real estate agent can provide the appraiser with up-to-date information about neighboring homes that have sold to support the seller's asking price.

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Craig Alexander
Weichert Realtors
824 John Marshall Highway
Front Royal, Winchester, Strasburg and Luray, VA. 22630
Cellular: 540-671-6082
Home Office: 540-933-6964
Fax: 540-301-0791
Voice Mail: 540-635-1300 ext. 131
Email: craigalexander@NUMBER1EXPERT.com
Email: craig@mris.com

Born and raised in the Front Royal area, I began practicing real estate in 1990. I offer a wealth of information about the area, including Front Royal, Warren County, Winchester, Frederick County, Flint Hill, Rappahannock County, Strasburg, Shenandoah County and Luray, Page County. A top producer in the region with over 450 closed transactions since 1997, I provide the best service possible to my customers and clients and have been recognized as one of the Top 5% Realtors nationwide for the past 7 years.