Step 8 – Ordering The Home Appraisal
Home Buying Process with Lucy Barraza
By this point in the process, we have a good idea of the home we want to purchase and for how much we want to buy it. Now it’s time to get our lender to make sure the home is worth our money. One of the many great services offered by our home mortgage lender is ordering the home appraisal.
Inside our sales contract, we also identified the closing date for this real estate transaction. In order for us to meet that date, we have to plan ahead and have important items carefully scheduled. One of those items is the appraisal. The appraisal can take weeks to get back to us, so we want to be sure to touch base with our lender and let them know that it’s a good time to order it.
Now this isn’t just for the bank, thanks to the Equal Credit Opportunity Act (ECOA), you will be provided with a copy of the home appraisal results for you to review and keep for your records. Furthermore, as your agent I can request additional information from the appraiser and even speak with her/him to discuss any pertinent information they should know.
The appraiser is also given a copy of the sales contract to review and ensure that the home lives up to what is spelled out in the contract. In conjunction with the Home Inspection, this service double-check’s your purchase and further protects you, the buyer.
Be sure to check out all my video by clicking the links below!
- Choosing Your Realtor
- Understanding Home Loans with Glen Smart of Nova Home Loans
- Setting Up Your MLS Search
- Touring Homes
- Writing The Home Offer
- Home Inspections
- Reviewing The Home Inspection Report
- Ordering The Home Appraisal
- Working With Your Loan Officer
- Signing the Closing Documents
- Thank You For A Great Experience
Lucy Barraza and Associates
Phone: (520) 909-7653