Appraisal

Your lender will order an appraisal of your home and I will schedule a time for the appraiser to see the home. The appraisal determines the fair market value of the home and ensures the home is worth the price you are paying in order to secure the mortgage. The appraisal also helps ensure the house meets certain standards regarding its condition. The average cost for an appraisal is approximately $250 for an owner-occupied home.

If the home does not appraise for the sale price, negotiations will resume with the Seller to adjust the price.

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