P a t r i c k J e f f r e y R e a l t yAn appraisal
is an estimate of a property's current market value done by a licensed professional.
The appraisal is based upon both a review of the property and comparison with
recent sales in the area (known as "comparables" or, simply, "comps").
All lenders require appraisals on property before a mortgage is approved. Generally,
a residential appraisal costs $150 to $500.
