 708-597-8884 - S.W. |
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Our guiding principle: Envision Mortgage Solutions thrives only on honesty, on honor, on the sacredness of obligations, on faithful dedication to our clients and colleagues, and on unselfish performance. Without them, it cannot live. |
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Envision Mortgage Solutions is an Illinois Residential Mortgage Licensee and a local Chicagoland company to provide personal service: Crestwood Office
4731 Midlothian Tpke #32
[contact us] [directions]Crestwood, IL 60445 [708] 597-8884
Licensed with the Illinois Department of Financial & Professional Regulation # MB.6759105 and is a member in good standing with the Illinois Association of Mortgage Professionals www.iamp.biz, the National Assoc. of Mortgage Brokers, and the Illinois Secretary of State. |
Appraisal Basics
An appraisal of real estate is the valuation of the rights of ownership. The
appraiser must define the rights he intends to appraise.
Appraisal Methods
An appraisal is an opinion of value or the act or process of estimating value.
This opinion or estimate is derived by using three common approaches, all
derived from the market. They are:
When To Order an Appraisal
There are many reasons to obtain an appraisal. The most common reason is for
Real Estate and Mortgage Transactions, but we have compiled a list of other
reasons you may need to order an appraisal:
Home's Market Value
In the real world, very few individuals order appraisal reports to establish an
offering price or to substantiate a purchase price.
Appraisal Needed To Obtain Loan
Usually, individuals applying for a loan are only interested in obtaining the
loan and unfortunately are not worried about the prudence of buying the property
at the agreed price.
Helping the Appraiser
Once you have selected an appraiser, be prepared to answer questions and provide
requested information.
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