The report included a comparison of our home to three other similar properties in the area. He compared their size, material, rental incomes and condition among lots of other factors that I won’t bore you with.
I like that he also went into detail about the neighborhood, its desirability, proximity to shopping, nightlife, public transportation and access to roads/highways. I suppose I never thought about these things in terms of the bank appraisal and assumed he would only focus on the house itself and its interior, not the surrounding environment. Nevertheless, it makes perfect sense now that I think about it. Ultimately, the house was appraised at more than what we are paying for it. This is great news for us!
Our closing date until now has been tentatively scheduled for the end of August. With all of this anticipation, I just want to close on the house and move in already! I am really satisfied with how things have been going so far and how eerily smooth the process has been. For now, we are looking pretty good!