What Happens During a Home Appraisal and Why It Matters

After your offer is accepted — congratulations! — your lender will order a home appraisal to confirm the property’s fair market value. This step protects both you and your bank, ensuring you’re not overpaying for the home.

An appraisal is performed by a licensed professional who compares your property to similar recent sales in the area. They consider factors like square footage, location, upgrades, and condition. In Cincinnati, appraisers also weigh neighborhood characteristics — proximity to parks, schools, and local amenities.

If the home appraises at or above your purchase price, great news! Your loan moves forward smoothly. But if it comes in low, your lender may only approve financing for that amount, not your offer price. Don’t panic — you have options: renegotiate with the seller, make up the difference in cash, or even request a second opinion.

Appraisals aren’t just red tape; they’re your safeguard. They ensure you’re investing wisely in Cincinnati’s ever-changing market.

The key is preparation. Work with a local agent (like me!) who understands market comps and pricing strategies — that’s how you avoid surprises when the appraiser arrives.

Presented by Tanya Roesel, Comey & Shepherd Realtors 513-678-5001 | tanya.roesel@comey.com#CincinnatiRealEstate #HomeBuyingTips #CincyHomes #CincinnatiRealtor #MortgageAppraisal