Will it Appraise?
Contrary to popular belief appraising real estate is not rocket science. However, a good appraisal requires both knowledge and time to prepare. "Will it appraise" is a good question in Cincinnati's overheated/overpriced real estate market. The sole purpose of the appraisal is to make sure that the amount being borrowed doesn't exceed the value of the home. The lender is using the house as collateral for the loan and they want to protect "their" investment. Houses don't always appraise for the contracted amount. Bidding...
