Appraisal

An appraisal is an independent third-party valuation of a property, ordered by the lender during the mortgage process. A licensed appraiser inspects the property, compares it to recent comparable sales, and produces a written report with a fair market value estimate. The appraisal protects the lender (and indirectly the borrower) from over-lending against an inflated price.

Most residential appraisals cost $500-$800 and take 1-2 weeks. If the appraisal comes in below the contract price, the borrower typically has to bring more cash to close, renegotiate the price, or walk from the deal.

Why it matters for Milo customers

Milo orders an appraisal on every mortgage transaction, just like a conventional lender. For crypto-backed mortgages, the appraisal confirms the real estate value — the crypto collateral value is separately confirmed through custody. Both have to support the loan size.

---