Appraisal shock

The ultimate determination of whether you’ll qualify for a mortgage refinance or not will depend partly on your appraisal, especially if you’re in an area where real estate values have dropped. Prepare yourself by checking with a local realtor, and asking for a list of recent properties that have sold that are comparable to yours. This will give you some idea of how much your home is currently worth. Before the appraiser comes, fix any obvious problems that may be an eyesore, like broken windows or messy landscaping. Also, don’t use the “assessed value” to guess where your appraisal may come in. That number is determined by the county tax assessor and could be lower or higher than the current market price of your property.

 
Posted by Phil Gustte on 08/16/2010 12:29 AM   Comments (0)  
Generate short URL

0 Comments on Appraisal Shock during a Refinance

Comments have been disabled by the author
 
Photo

Phil Gustte

Doylestown, PA

More about me…

Walter Financial Inc.

Address: 713 Hyde Park, Doylestown, PA, 18902

Office Phone: (215) 340-9660 x 106

Cell Phone: (215) 888-9915

Email Me



Links

Archives

RSS 2.0 Feed for this blog