Pros: Most
accurate. The only acceptable valuation
for real estate transactions.
Cons: Takes the longest,
up to a week or more. There is a fee for a
professional real estate appraisal.
Common
uses: Required for purchase or refinance. Also
can be used to remove MI (mortgage
Insurance) from a mortgage payment.
Cost: $275-$1000 depending on type of property and area of the
country. |