West Knoxville Appraisals Fact and Fiction

When it comes to buying a West Knoxville homes for sale, one common source for confusion is the appraisalmoney. There are a great many myths out there when it comes to West Knoxville appraisals and how it influences your home buying experience. In this post, we’ll help separate some of the fact and fiction surrounding West Knoxville appraisals.

Appraisal Fiction #1: The purpose of doing one is to make sure the buyer doesn’t pay too much for the house.
Fact: For all parties involved in the sale of the West Knoxville home, the appraisal provides valuable information about the home. It is most crucial, though, to the buyer’s lender so they don’t end up lending too much money on an overpriced home.

Appraisal Fiction #2:  There is a formula that appraisers use to confirm the value of the West Knoxville home.