Construction Lenders Rely on What is Known as a “Subject To” Value Appraisal
REQUEST A LOAN OFFICER NOW Appraisals are necessary for any type of loan, because after all, lenders need to know that they can get their money back if someone defaults on their payments! Without an appraisal, a lender would not know if the item was worth the amount that a person wanted to take out a loan for, and while that could be bad for the lender, it can also be bad for the borrower when they go to sell in the future.