When you buy your home with a rental property or properties, the lender who provides your mortgage will take an objective approach to determining your property’s value and will obtain information on its appraised value (which will likely include a report from a professional appraiser). When you sell the property, the buyer’s lender will require a new appraisal to determine its updated market value. This chapter tells you how appraisers estimate the market value of properties so that you’ll know what you need to do to maintain your property’s value.
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