What is an appraisal and who pays for it?
It is a valuation of the property by a professional appraiser using a recognized methodology. The bank requires it to approve a mortgage and the buyer normally pays for it. It is also useful without a loan, to check that the price is in line with the market.
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These answers are for guidance only and do not replace advice from a lawyer, accountant or immigration adviser. Laws, rates and amounts can change: confirm each case before signing or paying.
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