5 Types of Appraisals That You Need to Know: In the world of real estate, knowing about different types of property appraisals is crucial. They help ensure fair evaluations in buying, selling, refinancing, or securing bail bonds. Let's explore five important types of appraisals you should be aware of. Residential Appraisal: Residential appraisals are assessments of single-family homes, condominiums, and multi-family properties with four units or fewer. They are typically conducted by licensed or certified real estate appraisers who evaluate various factors. These factors include the property's location, size, condition, age, amenities, recent sales of similar properties/ Lenders often require residential appraisals before approving a mortgage to ensure that the loan amount is appropriate relative to the property's value. Challenges: The housing market can change a lot, which makes it tricky to know exactly how much a home is worth. Different things like the economy...