If you’re buying a home using a mortgage, refinancing your existing mortgage, or selling your home to anyone other than an all-cash buyer, a home appraisal in Shawnee County is a key component of the transaction. If you’re a buyer, owner, or seller, you’ll want to understand how the appraisal process works and how an appraiser determines a home’s value. Getting an appraisal is also a required step when giving a home to a family member as a gift of equity. An appraisal is an unbiased professional opinion of the value of a home and is used whenever a mortgage is involved in the buying, refinancing, or selling of that property. Accurate Appraisals Of KC qualified appraiser in Shawnee creates a report based on a visual inspection, using recent sales of similar properties, current market trends, and aspects of the home to determine the property’s appraisal value. The borrower usually pays the appraisal fee, which can be several hundred dollars. When the appraisal value is lower than expected, the transaction can be delayed or even canceled.