Property appraisal is a major step when you’re trying to qualify for a home loan. The property appraisers may find that the property won’t retain value and this could either stall the process or disqualify you outright. A little homework can help you prepare for these situations and avoid other hassles along the way. CM
It is the responsibility of property appraisers to assess the market value of a property during the loan process. Property appraisal is important for the lender but can lead to issues when it comes to underwriting so it’s good to be prepared. CM
When trying to receive approval for a commercial mortgage the lender will usually ask that a property appraisal must be performed. They will then contact a commercial appraiser who will come out to determine the market value of the property. Depending on how the appraisal goes your chances of approval can change dramatically. CM
Property appraisers are tasked with figuring out the market value of a property before loans are finalized. The property appraisal step is important and can often lead to complications for underwriting. Learn more on our website and stay in the know with RDS Real Estate! CM
Property appraisal can be a big hurdle when trying to qualify for a home loan. If the property appraisers decide the home is worth less than the sales price the bank may not go through with the loan. A little patience and knowledge will go along way in these situations. We can’t grant you extra patience but…