Clear Close – Tip #4

Posted: March 18, 2008 in General
Tags: , , ,

This one won’t take very long – appraisals.

Checkin out the house

Ok, I don’t need to make this blog long. If you have the Seller, then you should get a call from the appraiser sometime within the first 3 weeks of your clients home going under contract. If you do not get a call and you just assume that the appraisal was done…you might get a big surprise at the closing date!

If you have the buyer and you don’t keep up with the Lender (see all of my complaints about the horrific situation with Lenders) then you may get a big surprise on the closing date if you have assumed that the appraisal was done, had come in, and the home appraised.

Listen, it’s not the clients job to keep up with the lender. We all know this. And the Seller’s agent isn’t going to make sure that the appraisal is done in most instances. It’s the Buyer’s agent’s fiduciary relationship that mandates the agent keep up with the loan status. And it behooves any agent out there that represents the Buyer to keep up with the loan status. The state of things in the lending world is almost unbelievable…comical, if it weren’t so bad.

Make sure the appraisal has been done and that the home has met value.

Have a super day,

Dustin Curlee

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