It is essential that you know facts on how your homes are valued. In knowing about these facts, you should consider the following things:   * Appraisers are Important in Checking on Your Home's Value   The process of home appraisal revolves around the judgment of professional appraisers. You can hire these experts if you are loaning money to buy property from a bank.   * The Home Value Considers Many Aspects   The certainty of the home's value depends on a number of aspects. This includes the whole condition of the home and neighborhood, the price trends of similar properties, and how fast the homes of the same kind are selling in the open market.   * Appraisers are Chosen Both Ways   The lender usually chooses the appraiser. But the lender may also consider an appraiser hired by the seller of the home. Sellers may decide to get their own appraisal. However the lender may not recognise the appraisal report made by the one chosen by the seller and will still rely on the report done by their preferred appraiser.   * There are Possibilities of Low Home Appraisals   A mortgage loan may be put at risk by an evaluation of the home for sale if it comes out lower than the asking cost. Generally, the mortgage loan is only equivalent to 80% of the home value appraisal. It would be good if the seller is willing to bend his price to reflect the result of the report. In some cases, the buyer and seller discusses for a middle ground where both parties will be contented to pursue the deal.