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Unwrapping what to expect in your home inspection, appraisal and closing

Housing Wire

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. Home Inspection. Have you budgeted for closing costs?

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Home Inspections vs Home Appraisals: The Truth Every Buyer Needs to Hear

Appraisal Hub

Thats why understanding home inspections and home appraisals is your first step to making a smart investment. Home Inspections: The Detective Work Think of a home inspection as your personal property detective. A home inspection helps you avoid that nightmare. Determines the propertys market value.

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Selling your home to a family member in 5 easy steps

Housing Wire

A controlled transaction can be subject to tighter IRS scrutiny, especially if the property is sold below fair market value. Does your buyer need to secure a mortgage ? Contingencies in the agreement protect both parties if problems arise during the appraisal, inspection, or financing stages of the transaction.

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Real estate appraisals: What agents should know

Housing Wire

A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? Appraisals are required for homes financed with any type of mortgage. Getting approved for a mortgage depends largely on the outcome of an appraisal. Mortgage lenders want to make sure the property is worth the sale price.

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Remember liar loans of a decade ago? Those same people want to do away with appraisers.

Miller Samuel

My friend and appraisal colleague Ryan Lundquist and I authored a petition on change.org to point out the growing wreckless behavior that is enveloping the mortgage process. There’s a proposal from the FDIC, Federal Reserve, and Treasury Department not to require appraisals for some mortgages under $400,000. Ever heard of straw buyers?

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Market Correction or Seller Panic?

Appraisal Buzz

The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021. Fast-forward to today, and that same loan translates into a monthly payment of $1,468 – a 46% increase in monthly mortgage expense! Since 1976, mortgage interest rates and home price appreciation have had a positive, but weak relationship.

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A loan officer’s ultimate guide to appraisal modernization

Housing Wire

Property data collection consists of a complete interior and exterior inspection of the subject property. Freddie Mac announced automated collateral evaluation (ACE) as a new solution and Fannie Mae followed not long after with the introduction of Property Inspection Waivers (later renamed Value Acceptance).