What service does a lender order to determine a home's actual value?
A. Appraisal by an appraiser
B. Assessment by the seller's agent
C. Estimate by a broker
D. Quote by a property insurer
Answer (2)
A lender determines a home's actual value by ordering an appraisal by an appraiser . This professional assessment is crucial for ensuring accurate property valuation. Other methods, such as estimates from agents or quotes from insurers, are not considered formal appraisals. ;
A lender determines a home's actual value by ordering an appraisal by an appraiser, which involves a professional evaluation of the property. This process includes an inspection, data analysis, and report generation, ensuring an objective assessment. Other options like assessments or estimates are not considered formal valuations.
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