home buying process:
appraisal
Assuming you'll need help funding your home purchase, the lender will work in tandem with an appraiser to assess the value of the property. The appraisal generally takes place after the home inspection and repair negotiations are complete. The appraiser will evaluate the condition and features of the home to determine whether the agreed upon price for the property is reasonable. If the appraiser assesses the value at or above the agreed upon price, they will approve the home for the loan amount. If the property is assessed as being below the agreed upon price, buyers have several options to move the transaction forward, including getting a second opinion, restructuring the loan or re-negotiating the transaction.
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Curious about some possible scenarios or what the Troy Stevens Team has done to help clients win in a tough situation? Let's chat.
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