Getting Close

Stopping by to finish up the steps of the house buying process.

Once the title comes back "clear", contracts and title are forwarded to the bank for processing. There, the bank or buyer will order the appraisal. Here is where the entire transaction hangs in the balance.
An appraiser goes to the house being purchased and determines the value of it based on very specific criteria. Such factors as age, location square footage of living space, acreage and architecture amongst others will determine the house's value. Most important of all however, is the recent history of houses that sold in the immediate area. All these things are evaluated and ultimately lead to an appraisal price.
When this price is different than the agreed upon price, we have start to have issues...But good thing there's me....LOL see you soon for the rest...