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Understanding Home Appraisals: What They Are and Why They Matter

As a homeowner, you may have heard the term “home appraisal” mentioned when buying or selling a property. But what exactly is a home appraisal? In this blog, The Garza Home Team at RE/MAX North San Antonio will explain what a home appraisal is, why it is important, and how it works.

What is a home appraisal?

A home appraisal is a professional evaluation of a property’s market value conducted by a licensed and certified appraiser. The appraiser examines the property’s condition, size, location, and other relevant factors to determine its worth in the current market.

Why is a home appraisal important?

A home appraisal is important for several reasons. First, if you’re buying a home, the appraisal will determine the maximum amount a lender will finance for the property. If the appraisal comes back lower than the sale price, the lender may require you to come up with a larger down payment to make up the difference. Alternatively, you may need to negotiate a lower sale price with the seller.

Second, if you’re selling a home, an appraisal can help you set an accurate and fair asking price. Setting a price too high could discourage potential buyers, while setting a price too low could leave money on the table.

Finally, a home appraisal can be useful in estate planning, property tax assessments, and other legal matters.

How does a home appraisal work?

A home appraisal typically takes 1-2 hours to complete, depending on the size and complexity of the property. The appraiser will examine both the interior and exterior of the home, taking note of the condition, layout, and features. They will also evaluate the surrounding neighborhood, taking into account factors such as school districts, crime rates, and access to amenities.

Once the appraisal is complete, the appraiser will generate a report detailing their findings and outlining the property’s estimated market value. This report is typically shared with the lender and/or the buyer and seller.

In conclusion, a home appraisal is a crucial step in the home buying and selling process. It ensures that both the buyer and the lender have an accurate understanding of the property’s value, and can help prevent any surprises or setbacks during the transaction. If you’re in the market for a new home, be sure to work with an experienced real estate agent who can guide you through the appraisal process and help you make informed decisions.

Robert Joseph Ott

Sales Manager & Creative Director, REALTOR®

Jesse Rene Garza


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What seemed like forever, wasn’t at all. Jesse was VERY VERY patient, got us through the rough times, willing to meet at odd hours, made excellent suggestions, and was very understanding. Rosa had offer documents prepped and ready to go before we even made it home. Fantastic experience in these unique and trying times! THANK YOU! We LOVE our new home!
John Legg | San Antonio, TX