August 2018

Found 2 blog entries for August 2018.

Prior to making an offer, your agent should have discussed with you the home values for the area and presented a comparable sales analysis (CMA) for you to review prior to deciding on the price you would like to offer. These reports are used by Realtors to evaluate market conditions, understand pricing trends, and pinpoint the value of the subject property. Once you are in contract, and appraiser will be contracted to perform an appraisal on the property. 

The California Association of Realtors defines an appraisal as: "An opinion of the market value of a home expressed by a real estate appraiser." 

Regardless of whether you have included an appraisal contingency, it is important to remember two things:

1. The appraisal is an OPINION of value

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If you are reading this because you just had an offer accepted, CONGRATULATIONS! This is a very exciting time and there is probably a million questions and to-dos floating around in your mind. I hope this entry helps break down the process a little bit for you and helps prepare you for what to expect during the escrow process.

1. Deciding on a lender- Although you have been working with someone already in order to obtain your pre approval, you are not "locked" into using them for financing on your purchase. It is not uncommon to shop around for the best rate once you have an offer accepted. Different banks are able to offer different rates and programs for buyers, and there are many factors to consider when choosing your lender. Keep in mind, it is so

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