COTTON-Strategic Real Estate Advisor

**What Really Happens During a Home Appraisal?**

The appraisal is one of the most misunderstood parts of a real estate transaction.

An appraiser provides an independent opinion of the home’s market value. The appraiser considers the property’s location, size, condition, lot, permanent improvements, major features, and recent comparable sales.

An appraisal is not the same as a home inspection.

A home inspector evaluates the home’s condition and potential repairs. An appraiser evaluates its market-supported value for the lender.

When the appraisal is completed, the home may appraise at or above the contract price, required repairs may be identified, or the appraised value may come in below the agreed price.

A low appraisal does not always end the transaction. The buyer and seller may be able to review the report, provide additional comparable sales, renegotiate, or consider other options allowed by the contract and lender.

**The CottonSREA Take:**

A successful appraisal begins with accurate pricing, good preparation, documented improvements, and a clear understanding of the local market.

Buying or selling in the Lubbock area? Let’s make sure you understand every step before you reach it.

**MOVE WISELY.**

🏠 Front porch sitting, backyard BBQs, and plenty of space to grow—this is what suburban living is all about. 🌞❤️

[email protected]
806.500.7822

📍 Reduced Price 📍 This recently reduced home at 1022 N Genoa Avenue in Lubbock won't last long, so, don't wait to set up a showing! Reach out here or at (806) 500-7822 for more information!

[email protected]
806.500.7822

Reduced Price in Lubbock Former model home in Uptown West! This 3-bedroom, 2-bath home at 1022 N Genoa Ave offers 1,795 square feet of comfortable living space, a thoughtful floor plan, and the newer-home feel buyers are looking for in northwest Lubbock. Built in 2020, the home features an inviting living area with a fir...