In the final installment of this series in how to understand and navigate the appraisal process, we’ll explore the most important piece of it all: your rights. “What are my rights in the appraisal process….” is one of the most asked questions that I field from my Wake County home buyers and it’s something that […]
As we near the end of the series in understanding and navigating appraisals, today we’ll take a look at two of the biggest drivers of a strong appraisal: location and size of the home. Not only are these key, but, there’s also nothing that you can do about them as a Wake County home buyer […]
As I continue with this next piece in my series on appraisals, we will now take a closer look at other anomalies in the process: Refinances and Home Equity Lines of Credit. Many times I meet with Wake County sellers who previously had their home refinanced or had taken out an equity line of credit and […]
All loans are not created equal. Neither are all lenders. That also means that no two appraisals are going to be alike. As I mentioned in Part 1 of the series, it’s always best to approach the appraisal process with the understanding that the type of loan you apply for may place additional hurdles in […]
Simply put, the answer is no. Many Wake County home buyers are disappointed when their house appraises for contract price especially if they felt they had negotiated a great deal. Remember, the appraisal figure is not your home value. Its purpose is to justify and secure the bank’s decision about loaning the money you and […]