Appraisers weigh the placement of the house, its proximity to desirable colleges and different public facilities, the size of the lot, the dimensions and condition of the home itself and up to date sales costs of comparable properties, among different components.

The recent sales costs of equal properties carries probably the most weight of any other factor. Lenders usually want to see three comparables within a mile or two from the subject property, however it is not unusual for a five mile radius to be used when there are usually not enough comparable homes in shut proximity. The appraisal is meant to proctect both the lender, and the borrower from this scenario. That is vital to your planned refi. Hope this helps together with your FL Refinance.