appraisal

Appraisal Waivers & Automated Underwriting in 2021

In 2020, COVID-19 really threw a wrench in the traditional lending process, but our industry is resilient and adapted accordingly. We were granted appraisal waivers on 20% of our purchase transactions in 2021. That’s 20% of transactions that didn’t need an appraisal report of any kind!
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Automated Underwriting & Appraisal Waivers

The great thing about automated underwriting systems for appraisals is that the system "stores" the appraisal information and makes it more likely that a future transaction for the same property will receive an appraisal waiver. But how does it all work?
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Low Appraisals

When an appraisal comes in low, the buyer has a decision to make. What are the options and what are the implications of each? This is best understood if we look at a few examples.
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How to Buy a HUD Home

We have a new HUD foreclosure in Jefferson County, WA and there are a few things real estate agents and borrowers should know. Whether your home loan will be an FHA loan or a conventional loan, HUD homes are treated a little differently from other real estate listings.
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Condo Cheat Sheet

Just like mortgage lenders and brokers have a list of guidelines for home loan borrowers, they also have a long list of requirements for condominiums. Find out if your condo project is eligible for standard home loan financing or is a non-warrantable condo. We have a little of both in Port Townsend and Jefferson County, WA!
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So you want to buy a fixer upper.

There is a fine line between a home that needs a little work and a home that is not financeable.
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Appraisal Cheat Sheet

The appraisal process is subjective. There is no list of repairs that every appraiser will require. But these are the kinds of repairs an appraiser is likely to require.
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