More than likely, your buyer will need to take out a mortgage to pay for their new home. To determine the home's market value, they will be requested to get a third-party appraisal. You will need to schedule an appointment for the appraisal and make sure your home is putting its best foot forward. The appraiser will send your buyer's lender the final report with the estimation of your home's value - this will help the lender decide how much to approve for your buyer's loan.
Traditionally, homeowners aren't entitled to see the appraisal. If it turns out your home received a low appraisal, you will need to consult with your agent about next steps. Your buyer could ask to renegotiate your deal or walk away altogether. Check on what contingencies are in your contract to see if either of you have leeway if you get into this tricky situation.
コメント