Let me explain to you on what is really going on with the Phoenix real estate market for March 2018! Median Sale Price up $20,000 over March 201717% of Sales are Closing Over Asking PriceFor
How The Appraisal Process Works In Phoenix Arizona When Buying Phoenix Real Estate
The Topic For Today is "The Phoenix Arizona Appraisal Process."
Now, If you are paying all cash for your Phoenix home then you do not need a Phoenix appraisal. Now, if you are receiving a loan to purchase your Arizona home, you will need a Phoenix appraisal. Almost 95% of all Arizona home buyers are receiving a loan so this video tip is for you.
Your lender/mortgage company, where you are receiving your loan to buy your Arizona home will require an appraisal. The goal here is to make sure that your offer, that you and the seller agreed upon, comes in at current market value in Phoenix Arizona.
Two Great Reasons Why You Need a Phoenix Appraisal:
The bank wants to make sure that the loan they are giving you in your home is actually what it is worth in Phoenix, Arizona.
Don't you, the buyer buying this home want to make sure you are not over paying for the Phoenix, Arizona home that you want to live in as well?
This is a life jacket for you as well when buying your new Phoenix, Arizona home.
Now, your lender will order the appraisal after you have completed all your inspections on the home. Don't forget to check out the Phoenix home inspection process video on our youtube channel that covers this in great detail.
The cost of the Phoenix appraisal runs between $400-$550. It all depends on what type of loan you are receiving from your lender. The Phoenix appraisal usually takes between 5-10 days to come back to your lender.
Once the appraisal is back from your lender, you will then be sent a copy.
We hope you enjoyed this home buying tip and we will see you back on our channel soon for the next Phoenix home buyer tip!
Victor "Vic" Huerta and Araceli Huerta
Your Life. Your Dreams. Your Home! #Arizona #realtor & investor. Father. Husband. Honest. Truth. About you not me! Hello my friend. Ask me a question? Any question, does not have to be real estate rel....
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