March 23, 2016
Mistaking refinance appraisals for the market value
Unfortunately, a refinance appraisal may have been stated at an untruthfully high price. Often, Lenders estimate the value of your property to be higher than it actually is in order to encourage refinancing. The market value of your home could actually be lower. Your best bet is to set a price based on the most recent information regarding property sales in your community. This will give you an up to date and factually accurate estimate of your property value.