Q: After we find a home, make an offer and sign a contract, what's the next step in the home-buying process?
A: Then we move into the inspection phase where you hire home inspectors and or experts to inspect the mechanical systems, structural integrity and physical aspects of the home. If any problems arise your agent will work with sellers to get them resolved.
Once
that is done your lender will order the appraisal on the home from a
licensed appraiser whose job is to make sure the value of the home is
sufficient for the loan. Appraisers are not home inspectors. They are
only there to give opinion on the value of the home. They will point
out repair issues if they see them but they are not to be confused
with home inspector.s As long as the value turns out good and the
appraiser does not call for any required repairs the file moves along
to the underwriting stage.
Dana Bellanger, American Real Estate, 409-782-1615