Do You Know the Role of an Appraiser in a Home Purchase?

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When a loan is involved, the appraiser is chosen randomly from a pool. When an appraisal is turned in, it goes through an audit process with a management company. In theory, appraisers are supposed to be unbiased.

There are two kinds of appraisals: refinance and purchase. A refinance appraisal doesn’t account for the value you want, but a purchase appraisal requires a look at the purchase agreement.

These days, in either case, an appraiser is not afraid to appraise your home short. That’s why it’s important to understand the steps an appraiser takes. Here is what an appraiser actually does:

1. Inspects the property. Take measurements and photographs of your property. 

2. Compares similar homes. An appraiser looks at similar properties to determine the value of yours.
 
3. Makes adjustments to:

• Date of sale time 
• Location
• Site
• View
• Design
• Construction quality
• Condition age
• Square footage
• And more 

When you work with my team, we have banking experience and knowledge of how the appraisal process works. Don’t find yourself in a contract that won’t appraise! We can help you save time and money.

How to Transition From a Current Home to a New One

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Want to buy a Rochester Area Home? Search all homes for sale.

Transitioning from a current home to a new one can be difficult and stressful. Almost all buyers are also sellers, and most sellers are also buyers. This is a common problem, but this is also one that I've dealt with many different times. 

Some common considerations to make in this situation are:

• How quickly you could sell your home for the price that you need to purchase another.
• What is the availability of the type of home you need to purchase?
• You need the proper terms to sell your home so that you can move into another in the proper time frame.
• Contingencies will need to be written into a sale contract by an experienced negotiator such as myself.

I can be particularly helpful in situations like these because I have 13 years of experience with mortgage banking, so I could simultaneously help you sell your home and also figure out how to purchase another. 

If you need help planning a difficult transaction such as this, please don't hesitate to call me. I'm always here to help!