have been approved from my bank for a loan on fixing house,new roof they want to send an inspector to seen how much house is worth,What do they do

Asked by annettepetsaver, Crestwood, KY Tue Aug 26, 2014

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Michelle Car…, Agent, Coppertino, AL
Wed May 20, 2015
They have a right to know condition and value of the home in order to give you a loan. Primarily they measure, take photos, do research, ask questions about current improvements (when, how much, etc.) to determine a "fair market value" as of the date of the appraisal.
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Dan Tabit, Agent, Issaquah, WA
Tue Aug 26, 2014
Hi Annette,
Depending on the type of appraisal requested, they may just drive by or request a time to meet you and go through every room. If there are serious problems that need repair that are not on your list, they may request you add them.
Their goal is to verify the value of the property in order to justify the loan amount you want.
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