Home Buying in Monticello : Advice

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Ben Strom, Real Estate Pro in 55369
Ben Strom answered:
can a lender reject an appraisal if there are problems with the house. (out of date furnace, gravity heat, outdated electric.) If so, is this common
A appraisal is done to determine if the value of the property is in alignment with the loan you are trying to get - A FHA "appraisal" is to make sure the potential home owner ... more
0 votes Share Flag Thu Jul 21, 2011 Home Buying in Monticello
Ben Strom, Real Estate Pro in 55369
Ben Strom answered:
can I save money on an appraisal if I know the lender will reject it. (conventional loan, 1st offer on house, heating and electrical outdated.
Have a contractor look at it (unless you plane on doing the work yourself) and determine how much it will cost to bring the home to code and then to bring it to neighborhood standards a ... more
0 votes Share Flag Thu Jul 21, 2011 Home Buying in Monticello
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