Answer :
Answer: A lender's purpose for ordering a real estate appraisal generally involves risk-based decisions. Banks and mortgage lenders will order and review a real estate appraisal to determine whether a property meets certain underwriting standards.
Step-by-step explanation: I hope this helps!
The lenders' appraisal is the increase in the fair value of the fixed asset or the property with the change in time, condition of the property, and the current sale price of similar properties.
The purpose of the lenders' appraisal is to provide the lender with the true value of the property that must be more than the purchase price so that the lenders get desired sum of money at the sale of the property.
It also helps to determine the value before putting the property for the mortgage and safeguarding the funds.
Thus, when the lenders' property is appraised on a timely basis it helps the lender to perform future transactions of sale or mortgage easily and at a value that is more than the purchase price of the property.
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