NEXT STEP: APPRAISAL A home appraisal by an FHA approved appraiser is required for every reverse mortgage loan. Here’s what you need to know so that you can manage your expectations about getting your home appraised as part of loan process to make this a smooth and successful transaction. Upon receipt of your application All Reverse Mortgage will
A home appraisal is an assessment of a home’s value – and an important component of getting final approval for your mortgage loan. Learn more about the home appraisal process and why getting a home appraised in an important step for both buyers and sellers.
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5 Things Your home appraiser wishes You Knew to ImproveYour Loan Appraisal. So you thought you were in the homestretch because you accepted a great bid on your home? Think again! The closing process has only just begun-and for most sellers, an appraiser and process can be one of the scariest parts.
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When you’re selling your home or trying to get a second mortgage or a home equity line of credit, your bank will probably order a current appraisal. The appraisal tells the bank what your house is worth based on its age, condition, the neighborhood, landscaping and recent sales trends, among many other factors.
An appraiser will usually look for 3 or 4 (and potentially up to 10) comparable properties that have been recently sold in the area. These might not be exactly the same size, condition, or age, but they do give an appraiser a good idea of what is selling close by.
You Are Looking for Buying Your First Home ? Here Are 5 Things You Should Know Back when my husband and I bought our first home in 1997, I knew little about home buying. It was a charming house built on a solid slab of concrete that I had a dream I was flying through [.]
Getting Yourself And Selling Real Estate In Oregon Payment of Transfer Taxes. Unlike some states, transfer taxes are not common in Oregon. In fact, Oregon’s constitution prohibits transfer taxes, with one exception. In Washington County, there is a $1 per $1,000 transfer tax. This means if you are selling real property in Washington County, you would be subject to a $100 transfer tax on the sale of $100,000 home.