Your lender will order an appraisal of your home and
coordinate with the listing office to schedule a time for the appraiser to see the home.
The appraiser determines the fair market value of the home and insures the home
is worth the price you are paying in order to secure the loan. The appraisal
also helps insure the house meets certain standards regarding its condition. The
average cost is $300 for an owner-occupied home.
If the home does not appraise for the sales price,
negotiations with the Seller may lead to a price adjustment.
Next step, use contingencies
in your offer.
Mike Burns, CRS,
The Real Estate Group, Inc
5725 Windy Dr Suite E
Stevens Point, WI 54482
Direct: 715 295-5008
Cell: 715 498-1248
Fax: 715 295-5006