Once the appraiser has applied the three approaches to the appraisal of your Mobile Eastern Shore real estate, he/she must decide which of them is the most reliable and most closely follows the actions of the market. For residential properties, the Sales Comparison Analysis is typically the most reliable. For commercial or industrial properties, all three techniques (or portions of one or more) may 
be reliable. The appraiser reconciles the various aspects of each technique into what he or she believes produces a credible and supportable opinion of value. The result is the Final Value Estimate, which, depending on the needs of the client, may be expressed as a single number or a range of value.
What If It’s Low?
If the appraisal of your Mobile Eastern Shore real estate comes in low, that doesn’t necessarily mean that you can’t complete the transaction. Your options to rectify the situation included the following:
- You can make up the difference in cash.
- The seller can lower the price.
- The seller can carry a second mortgage for the difference.
- You can order a second appraisal
- You can supply a list of comparable sales and ask for a review of the appraisal.
What Does It Include?
Under the Equal Credit Opportunity Act, your lender must furnish you with a copy of the appraisal of your Mobile Eastern Shore real estate if you request one in writing. Appraisals are very detailed reports, but they should include the following:
- Details about the subject property, along with side-by-side comparisons of three similar properties.
- An evaluation of the overall real estate market in the area.
- Statements about issues the appraiser feels are harmful to the property’s value, such as poor access to the property.
- An estimate of the average sales time for the property.
- What type of area the home is in (a development, stand alone acreage, etc.).
Do remember that an appraisal of your Mobile Eastern Shore real estate is not a home inspection and cannot be considered a guarantee that the property is in good condition. Appraisers make notes about obvious problems, but they do not perform tasks done by certified home inspectors.