Realtor appraisal or real estate appraiser?
I am trying to buy a house without a realtor, the person we are looking to buy from has had a realtor come and appraise the house. I was wondering, before we move forward with anything with our mortgage lender, if that means anything or if they should have an actual real estate appraiser do the appraisal. (I have already been pre approved for a house loan)
Comments
The bank will send a real appraiser'
Are you paying cash? If so, then I would have an separate real estate appraisal done by a professional appraiser, the same as a bank would require. And I would make the contract contingent on the appraisal.
If there is a loan, the bank will require an appraisal. Make sure that the contract is contingent on the value. If you are doing a FHA or VA loan, a condition of giving the loan by the bank is based on the appraisal and if the value is less then sales price, you don't have to purchase.
A realtor would have explained this to you.
Any appraisal is YOUR responsibility, not that of the sellers. The sellers have used a real estate agent to provide them a reasonable estimate of market value. If you want such value certified by a professional appraiser, that is your choice and your cost. You will also be required to pay for an appraisal for your lender, since the lender will require an appraisal as part of documentation for your mortgage loan.
a actual appraiser is a qualified professional and as such desires to demonstrate back a job at the same time as there's a conflict of interest. a actual sources appraiser will count upon the offered similar houses to apply to study to the only being appraised, and there is in undemanding words a lot of a spread that they could appraise a house interior of and be life like. in case you think that own revenge is interested in "killing the deal" then record the appraiser to the licensing bureau....yet you should ask for a replica of the appraisal first. If the monetary corporation paid for it, the appraiser can charge you for a replica. even with the undeniable fact that the record ought to obviously clarify how the cost became determined.
It is your responsibility to look for a real estate appraisal to the value of real property, usually its Market Value. Most often, banks sent the real estate appraisal for you.