I’m a buyer, what do I need to know about an appraisal?

THE HOME APPRAISAL PROCESS

As the home buyer, you will probably be requesting an appraisal. If you are getting a loan to buy your house, an appraisal will be part of the process. This is a professional appraisers estimated value. The appraiser will use recent properties that have sold in the area to help determine the value of the home you choose.

The appraiser will also consider the condition of your home, age, size and so forth in determining the value.

If the house is appraised high, your agent may suggest you make a lower offer with the attached appraisal to qualify for your loan. In some cases, the seller may still hold to their original asking price and ask you to pay the difference

Reasons A Mortgage Is Denied After Pre-Approval

One of the most important steps to successfully purchase a home is to get pre-approved for a mortgage before shopping for homes.  The primary reason to get pre-approved for a mortgage before shopping for homes is to ensure you’re looking at homes that are within the price range that you can afford.

Even though a buyer will get pre-approved for a mortgage before shopping for homes doesn’t mean there is a guarantee they will successfully obtain the financing.  Certainly the hope is the if a lender pre-approves a buyer that the buyer will successfully obtain the financing, however, it’s possible a mortgage can get denied even after pre-approval.

A mortgage that gets denied is one of the most common

A FSBO, also known as a for sale by owner, can easily be described as a homeowner selling their property without the representation of a real estate agent or broker. 

There are many reasons why homeowners attempt to sell their home on their own.  A few of the most popular reasons for FSBOs are they want to save the money that would be spent on real estate commissions or that they feel they don’t need a real estate professional to sell their home.  No matter the reason, according to the National Association of Realtors, less than 10% of FSBOs actually sell.

There are many reasons why FSBOs fail and do not sell.  Whether it is because the FSBO doesn’t understand how to price their home or whether it’s because they don’t know how to screen potential

Ignore some of these signs and you may end up with major issues.

We tell you which are normal and which are cause for concern

Your home is trying to tell you all sorts of things. The way it sounds; the way it smells. And there are plenty of visual cues to tip you off that something isn’t right. “Everything is moving all the time, expanding and contracting at different rates, reacting to heat, rain and wind. A house is moving and breathing,” says Tapley Dawson, a partner at The Home Doctors in Novato, California. In other words, a house is something you've got to take care of.

Dawson recommends that you do a good walk around the house every fall before the rainy season begins, checking for cracks, clogged gutters or anything that just doesn't look

How much money should I offer for a Kamloops home

Great question! And, a very common question.

You find a home to buy and you wonder, should I offer the full list price, should I come in low or just what should I do?!

Today I’m going to tell you how to crack the code on knowing just how much money you’ll offer the Seller for the home they’re selling. We’ll be analyzing the local Real Estate market where the home resides, how close to perfection is the home you want to buy, what type of Buyer representation do you have and is time on your side, to name a few. Once you understand and recognize these circumstances you’ll be well equipped to be on your way to buying a home in Kamloops or neighboring communities, for that matter! This will affect all