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Before your mortgage application is approved, the lender will order a professional appraisal of the home to make sure that the agreed-upon price is in line with the current market value of the home. The appraiser's price will be based on the complexity of the appraisal and the time required. A professional appraiser will choose the appraisal technique that is applicable to the particular property to arrive at an unbiased opinion of the value. One technique is to look at comparable homes in the area that have sold for the contractual price within the last six months. The price of each comparable home is adjusted to reflect the differences between it and the house being appraised. If there are a number of similar properties that have sold recently, the appraiser's job is easy. It is more complicated to arrive at the appraised value if your home is located in a rural area or a diverse neighborhood. The appraised value will usually be very close to the sale price. If the appraisal comes in lower, the Real Estate Agent may be able to provide the appraisers with additional information on recent sales which will result in increased value.