Tips on the Appraisal Process For Homebuyers

Homebuying can be an overwhelming process with many crucial steps, which you are hopefully guided through by a great Mortgage Lender and Realtor on your side. One of the most important steps in buying a new home is to have an appraisal done to ensure that you are getting out of your future home what you’re putting in! Following these important steps can make getting your home appraised a breeze!



What All Buyers Need To Know About The Home Appraisal Process


Do you know what a home appraisal is, or why it’s so important for you to have? Many people misunderstand this crucial component of the home buying experience.

In a nutshell, an appraisal is a valuation of your home; it’s a way for lenders to ensure that they aren’t providing a mortgage that isn’t worth what the home is worth. Your appraisal must match or exceed the value of your loan, otherwise you’ll run into hiccups.

An appraiser is someone who uses comparable sales in your neighborhood as well as the condition of your home in order to make a sound valuation of your home. They’ll include factors both inside and outside the house.

If an appraisal is lower than the amount you thought the house was worth, there are several options, including renegotiating the deal and paying the difference. If it’s higher, it benefits the buyer. But knowing more about appraisals, whether you’re a homebuyer or seller, can help the whole process go more smoothly.

Article originally appeared on Lighter Side of Real Estate

Had a great talk about Financing!

Even though there was so many people without power yesterday, we had a pretty good turn out at the Salisbury Country Club for our Class "Top Financing Questions Every Realtor Needs to Know". This gave our Realtors 2 CE Credits.

We work very closely with our Realtors to make sure that they know how to answer financing questions when their clients ask. And yes, we don't expect them to know all the answers but that's why we offer these free classes for Realtors so they can have SOME answers.

Buying a home can be a scary process and talking about finances can be very personal for a lot, but in today's market it's more important than ever to have these conversations with our clients early on.

The most important thing to take away from our class is that even though rates remain low and the Real Estate Market remains healthy, we've seen a steady incline in rates, so if you've been thinking of buying, now is the best time to do so!

If you're too scared to ask, make sure that they contact us so we can clear up any questions that they may have, that's what we're here for!

No Matter The Loan, Big or Small, We Can Make Our Customers Homeowners

I want to take a moment to talk about one of my clients Zach, who was looking to buy a new home in the Richmond Area. Zach works in non-profit meaning that he works for a good cause but doesn't have a lot of disposable income. Having a restricted budget it was my job to figure out how to get him in a home that he would be happy with and that wouldn't strain him too much financially. 

Even though he didn't have a large budget, he also wanted to buy something that was move in ready and that didn't need a lot of renovations - with the help of Kristina Davis Denzler from Clocktower Realty, we are able to find something that checked off all of Zach's needs and wants. 

His monthly payment is something that he can easily handle, just under $1,000 a month. It's close to the city, just a few minutes away and with enough room to entertain and have people over. 

Having the RIGHT Realtor and the RIGHT Lender can really make all the difference. I want to make a difference when it comes to your Real Estate needs. If you want to find out more of what I can do for you and your family, please give me a call! Spring is just around the corner and it would be really great if can get you into a new home then!