Appraisals for Bank Loans: Using Assets as Collateral for Financing
July 5, 2023
When it comes to securing financing for a loan, the accuracy of an appraisal can be critical. An appraisal offers a objective assessment of an asset’s value when used as collateral for a loan. This blog post will answer questions like what is an appraisal, what assets can be used as collateral, and who is responsible for ordering the appraisal. We will also discuss the purpose of a loan appraisal, how long it takes to get an appraisal, and why an appraisal can be beneficial when securing financing.