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I’m in the home-buying process and need some clarity about appraisals. What can I expect from an appraisal for real estate? I understand that it evaluates the property’s worth, but what specific factors do appraisers consider?
If the appraisal value is lower than my offer, what are the best steps to take next? Should I negotiate with the seller or look for other financing options? Any tips or personal experiences would be very helpful.