Ah, the appraisal. You’ve signed a contract with a seller, you’ve done the home inspection, things are sailing along, and then … whoops. The appraisal on that beautiful new home came in low.
What Is An Appraisal?
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From Inman.com – The Anatomy of a Real Estate Appraisal
This article is cut and pasted from Inman.com, with a link to the full article here. I didn’t want it disappearing behind their pay wall. Every area is a little bit different, but this is a good, comprehensive look at the mechanics of a home appraisal. You can find New River Valley real estate tax rates here.