Before your mortgage application is approved, the lender will order a professional appraisal of the home to make sure that the agreed-upon selling price is justifiable based on the current market value of the property. The cost of the appraisal will be based on the complexity of the appraisal report and the time required to complete it.

A professional appraiser will choose the appraisal technique that is applicable to the particular property to arrive at an unbiased opinion of value. One approach is to look at comparable homes in the area that have sold within the last six months. If there are a number of similar properties that have sold recently, the appraiser's job is easy. It is more complicated to arrive at the appraised value if your home is located in a rural area or a diverse neighborhood.

The appraised value will usually be very close to the sale price. If the appraisal comes in lower, the real estate agent may be able to provide the appraisers with additional information on recent sales which will result in increased value.

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Joe Piscitelli
Coldwell Banker
171 N. Broad Street
Milford, CT 06460
203-982-3511
Fax: 203-783-1828
ct-waterfront-realestate@NUMBER1EXPERT.com

As one of America's NUMBER1EXPERTS™ on the shoreline area of Branford, Guilford, Madison and Milford, Joe has listed and sold more upper tier, unique and waterfront homes, then any agent on the shoreline. His love for the waterfront developed over fifteen years ago, when he began swimming in Long Island Sound every day at dawn, year round. A morning habit that continually refreshes Joe’s deep connection to this dynamic and wonderful area, it is a daily reminder of his great good fortune in living within and representing one of the loveliest areas on the East Coast. With many miles of beaches, coves, rivers, outlets, rock outcroppings and abundant wildlife, this “boater's paradise” offers just about every dream location imaginable. In the forefront of the real estate market in this area, Joe is often the first person notified of upcoming properties, and his clients benefit, an extremely important asset for potential buyers or sellers. Today's technological world moves rapidly, and there, again, Joe is the NUMBER1EXPERT, superlatively equipped to handle all of your real estate needs. Call or e-mail him today!

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