Appraisal

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, GRI, REALTOR®
RE/MAX Realty Associates LLC
www.StevensPoint Realtor.com
www.StevensPointHomes.net
www.StevensPointMLS.com
www.Homepointers.net
© 2000-09