In most cases the answer is yes. However, it is very important to note that the appraisal can be lower. This is due to the fact that most banks are interested in the value of a property if it had to be resold quickly or if the market takes a turn for the worse. Luxury properties are most susceptible to lower than market evaluations. If you are interested in high percentage finance (over 60%) it is wise to do an appraisal before purchasing so you know where you stand. It is also important to choose an appraiser that is knowledgeable about the area you are buying in, especially if prices have changed recently.