Now that you’re under contract and past due diligence, it’s time for the appraisal! The appraisal is crucial in determining if the home’s market value matches the purchase price.

Your lender will hire a third-party appraiser who will visit the property and provide an official report on the home’s value. If the appraisal comes in at or above the purchase price, you’re in the clear! But if the appraisal is lower, there may be some negotiations to be had.

Once you’ve cleared the appraisal contingency and met your final loan conditions, you’ll be one step closer to closing day!

Ready for your appraisal? Let’s help you navigate the process.