Congratulations! You’ve gotten preapproved for a home mortgage, found your dream home, negotiated an agreeable sales price, successfully maneuvered through the home inspection process, and finally, you have a fully executed sales contract in hand for your new house.
If you’re a first-time homebuyer, you may not realize all the steps that go into buying a new home. Some of them, like the home inspection and obtaining the real estate appraisal, can be stressful. So, what should you expect with this next step in the appraisal process? And how long does an appraisal take?
Let’s go over some appraisal basics to help you understand what is involved in one of the last steps in your home buying journey.
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