Appraisal
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
An appraisal is a licensed expert's estimate of a home's value. Lenders use it to set the loan amount.
What Appraisal means
The appraiser reviews the home and recent nearby sales. The value protects you from overpaying.
Florida example
A Florida home appraises at or above the price. That keeps the loan and the deal on track.
Why the appraisal protects you
An appraisal is not just a lender hoop. It protects you too. The appraiser confirms you are not paying more than the home is worth. In a fast Florida market, that check matters.
The lender lends against the lower of the price or the appraised value. So if the number comes in low, your loan is based on that lower figure, and you cover any gap or renegotiate.
What happens with a low appraisal
A low appraisal is not the end. You can ask the seller to drop the price, split the difference, pay the gap in cash, or dispute the value with better comparable sales.
We review every appraisal for errors and help you and your agent respond. Reach out and we will map your next step so a low number does not cost you the home.
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