If you are wanting to finance a home, you will need an appraisal (that’s where we come in).
Financial institutions will only loan money toward the purchase of a home if its appraised value falls in line with the loan’s guidelines and the borrower’s credit score and other factors.
We have the experience and knowledge to guide you through the conventional home appraisals process, give you a high quality service and answer any questions you or your bank or credit union may have.
Our professional real estate appraisers will point out defects and aspects of the home in disrepair, however, you are not required to fix them to get approved for the loan. If the overall appraised value, defects and all, meets your loan amount, the house passes and your loan gets approved.
A decision on whether to require repairs on a conventional appraisal will rest with your lender.
We will note any problems and suggest repairs on serious issues, like structural problems. Small, cosmetic issues, such as peeling paint will be left to you as the buyer. These issues may reduce your appraised value, but the seller will not be required to fix them.
It’s easier to get approved for a conventional home loan than an FHA or VA loan. Guidelines are a bit more flexible.
If you have any questions, feel free to contact us.