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Construction Loan Appraisals

How construction loan appraisals differ from an appraisal of an existing home.

How New Homes are Appraised
How do you appraise a home that isn’t built yet? The answer is, plans and specs. The appraiser will be given a copy of the legal description for your land, so they will know where you’re building. But instead of being able to inspect an existing home, they will be given the plans for the home and the...
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