Friday, August 12, 2016

"Missed a bathroom": Showing up at the lender appraisal

We attend all property showings, contractor visits and the lender appraisal visit.
Many real estate brokers put a home listing on "lock box" for showings and property visits.  Bob or I personally attend all transaction related appointments during a home sale to help ensure a timely and smooth closing. Lender appraisal visits are one of the most important appointments.

We assure the mortgage lender's appraiser includes important property features to avoid closing delays and to protect the purchase price we achieved.  Today I asked an appraiser at a Lincoln Square listing if they "got the en suite bathroom upstairs".  Her answers was "I must have missed a bathroom".  Yikes.  The en suite adds huge value and they may have needed to come back.

Even if the homeowner can be home we attend the lender appraisal on their behalf.  Each appraiser is different and ask for different pieces of information.  We make sure they mark down the parking spots, special wiring, beds, baths, bonus rooms and recent renovations. It also pays to have comparable properties in mind, a floor plan and the additional written offers on hand (if any).

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