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appraisal: Buying your home from your Landlord - Red Flags and what NOT to do - 01/03/12 09:01 PM
So, you've lived in your place for a year or two and your landlord has approached you about buying it. You really like your house and you want to stay there, and the prospect of homeownership is very exciting indeed! Before you jump on that chance, however, here are a few tips for navigating the process of buying the rental home you're in.
1. Ask the landlord why he wants to sell the property. Most of the time, your landlord isn't just being benevolent. There's a reason he wants to sell. Maybe the property taxes have gone up. Maybe there is … (3 comments)

appraisal: Why do I need an appraisal? Do I need a survey? Do I need a title search? - 06/09/11 04:23 PM
I just had these three questions posed to me today:

Q: Can a house be sold without an appraisal?
A: A buyer cannot secure a loan without an appraisal. The appraisal assigns a value to the home. This value is what the lender will use to determine how much and if to loan the purchase money to the buyer. The appraisal is ordered by the lender and paid for by the buyer during the loan application process. In the case of a cash buyer, they can still order their own independent appraisal if they wish. After all, an investor or … (1 comments)

 
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Cathy Baumbusch (cathybREALtor)

Springfield, VA

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RE/MAX Executives

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