Appraisal Report Analysis

When an appraisal is obtained, the underwriter must analyze the

• current contract for sale for purchase money transactions,

• current offering or listing for sale for both purchase and refinance transactions when the home was listed for sale,

• comparable sales for both purchase and refinance transactions, and

• current ownership for the subject property

The underwriter is responsible for validating that

• the property meets Homium’s eligibility criteria (see General Property Eligibility, for eligibility requirements); and

• the appraiser has provided an accurate and reliable opinion of value that reflects the market value, condition, and marketability of the subject property in compliance with Homium’s requirements.