Remove Counter Offer Remove Inspection Remove Insurance Remove Mortgage
article thumbnail

Appraisals 101: What to Expect From the Home Appraisal Process

Raleigh Realty

Like making counter-offers and going through the home inspection process, the home appraisal can be a sticking point between buyer and seller. If you're putting the majority of your savings into a downpayment, it's likely you can't afford the non-mortgaged cost. Or should you flat out refuse and move on to another home?

article thumbnail

The REO Guide: 10 Steps to Buying a Bank-Owned Home

PennyMac

The homeowner/borrower defaults on (fails to make) their mortgage payments for a certain length of time, with the qualifying amount usually specified in the mortgage terms. The property is then offered to the public at a foreclosure auction and typically sold to the highest bidder. Step 7: Have the Property Inspected.