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Pleas help! Home already been appraised and inspected. whats next?

Update:

I'm buyer

4 Answers

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  • Anonymous
    4 years ago

    That is a question best asked of your loan officer, if you are taking out a mortgage loan to purchase the property. The next thing you should expect from them is an approval with conditions (extremely rare to get a final approval right out of the gate), or a denial (unlikely at this stage), or a suspension so that additional information can be obtained.

    In addition to reviewing the appraisal to make sure your loan to value (LTV) ratio is proper for the loan you are seeking, they will have been doing verifications of your employment, income, assets, and debts and comparing that to what you put on your loan application. They may come back to you for some additional information, perhaps some more income documentation or explanations for recent large deposits to your accounts, and things like that.

  • glenn
    Lv 7
    4 years ago

    The title company is working on title work so that you can recieve a clear title to the property. Any issue they come up with will be fixed by seller or someone or your mortgage company will not allow you to close. You should also supply your mortgage company with everything they are asking you for in the way of documents and information. In addiction you need to arrange for an insurance policy to satisfy you and your mortgage company. Several more things- your real estate agent can help you if your mortgage company is unwilling to communicate with you.

  • 4 years ago

    Then your loan will go to underwriting for final approval.

  • 4 years ago

    Your realtor should be informing you if the buyer will proceed with the purchase.

    Assuming you are the seller.

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