17 May 2023
By Aadil Nathoo

What You Need To Know About Your Home Appraisal And Your Mortgage

Mortgage, ,
When buying a home, there are certain steps a buyer should go through before the home sale is official. First the buyer makes the offer, then the offer is accepted. Next the buyer schedules the inspection and home appraisal. Finally, everyone is ready for closing. It’s easy to overlook the impact of some of these steps, but when it comes to a mortgage, the home appraisal is actually quite important. Banks want to see that they are lending money for an investment that is worthwhile, so that appraisal is a crucial step to getting financing. Here is what buyers need…
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06 Jul 2022
By Aadil Nathoo

An Overview Of A Drive By Appraisal

Mortgage, ,
If you are applying for a home loan of any kind, there is a high likelihood that your lender will require a home appraisal. An appraisal is done to figure out how much your home is actually worth because the lender does not want to lend you more money than you could theoretically sell the home for in the future. There are some situations where the lender might be fine with a drive/by appraisal. What does this mean? Comparing A Traditional Appraisal To A Drive By Appraisal A traditional appraisal is a very thorough process where the appraiser comes to…
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04 Feb 2022
By Aadil Nathoo

How To Deal With An Appraisal Gap

Mortgage, ,
The vast majority of people will need to go through a mortgage lender when purchasing a home. One of the last steps in the purchase process is the home appraisal. The lender wants to make sure they are not lending more money than the house is worth. If the appraisal value comes in above what the buyer is paying, then the buyer is happy because they might be getting a great deal. On the other hand, if the appraisal comes in below what the buyer is paying, this can be frustrating. What is the appraisal gap, and how does it…
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06 Jan 2021
By Aadil Nathoo

The Top House Appraisal Tips For Home Buyers And Sellers

Mortgage, ,
There are a lot of steps that come with buying or selling a home. One of the routine steps that have to be accomplished is called a home appraisal. When it comes to a home appraisal, this is something that can cause both buyers and sellers to pause for a second. For those who might not know, a house appraisal is where a trained professional will take a look at the fair market value of the home. It is important to understand what happens when a home appraisal is conducted.  Compare The Home To Similar Properties When a home appraisal…
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08 Mar 2019
By Aadil Nathoo

5 Options To Consider When Your Appraisal Comes In Low

Mortgage, ,
Yikes! You are set on buying the home that you picked out and the appraisal comes back at a lower amount than the amount needed for the home loan to be approved. What do you do? After you calm down your significant other and then take three deep breaths, here are some options to consider. Request A New Appraisal Appraisals are only one person's professional opinion. There are rules that must be followed when making an appraisal; however, there is still some flexibility in how to apply the rules. Check the comparables (also called "comps") that the appraiser used as…
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