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  • October 26, 2014 at 2:00 PM #21277
    Ricechex
    Participant

    Hello All,
    I am hoping the experienced members of this forum can help me out.

    As noted in the subject heading, I will be in escrow tomorrow. (After MONTHS and MONTHS of searching….)

    1) Any recommendations for a good house inspector?

    2) I have an approved 30 year fixed loan, San Diego County Credit Union for 4%, no points. My credit score is above 740. Anyone know of anything better for 30 year fixed?

    3) I believe the appraisal will come in higher than the purchase price. Would it be in my best interest to get the inspection first, negotiate any repairs and then order the appraisal?

    Thanks Much in Advance.
    Beth

    October 26, 2014 at 5:38 PM #779566
    UCGal
    Participant

    I don’t have any answers to your questions – but I wanted to offer congratulations!

    October 26, 2014 at 6:23 PM #779567
    Coronita
    Participant

    Congrats!

    For the inspector, I’ll send you a PM about the one I used for a short sales about 2 years ago… He was referred to me…

    October 26, 2014 at 6:32 PM #779568
    spdrun
    Participant

    If the appraisal is ordered by your bank, the appraisal is confidential between you and the mortgager, with the seller not being party to this. If so, who cares?

    October 26, 2014 at 6:39 PM #779569
    Ricechex
    Participant

    I thought that the appraisal also goes to the seller, I didn’t realize it was confidential.
    It was my understanding that if the appraisal came in lower than property purchase price, the seller would have to sign something that they understand it is lower.

    October 26, 2014 at 6:47 PM #779570
    spdrun
    Participant

    Appraisal is done mainly for benefit of the lender to make sure that they’re not lending more money than the property is worth and staying within a reasonable loan-to-value parameter. Buyer can ask for a copy, but there’s no obligation to share it with seller, AFAIK.

    October 26, 2014 at 6:49 PM #779571
    Ricechex
    Participant

    Texted realtor. She says “The seller will have that as well. Everyone involved in the transaction.” (I know I asked you all first…..trust your opinions, not always hers….)

    October 26, 2014 at 7:02 PM #779574
    Ricechex
    Participant

    Thanks UCGal!

    October 26, 2014 at 7:02 PM #779573
    spdrun
    Participant

    Did you actually sign anything allowing the seller to get the appraisal?

    If not, let the seller pay for their own appraisal.

    October 26, 2014 at 7:06 PM #779575
    Ricechex
    Participant

    No, I did not. Realtor says that the “agent and broker will require it to close out their file.” (And the inspection report too)

    October 26, 2014 at 7:12 PM #779576
    spdrun
    Participant

    The only entity that needs the appraisal is the lender. Other than that, it’s even perfectly legal to sell a home without an appraisal. No reason the selling broker should need one.

    October 26, 2014 at 7:18 PM #779577
    Ricechex
    Participant

    THANK YOU. I have always trusted the Piggs….people I dont even know.

    The realtor is like a runaway train. In past offers, she is wheeling and dealing with the other agent and trying to convince me to go higher in price. I have had to put the brakes on her the whole time.

    And, I have refused to tell her my price limit, because otherwise she will attempt to upsell me to that.

    October 26, 2014 at 8:40 PM #779580
    scaredyclassic
    Participant

    i really liked my inspector, someone here recommended him, was expensive though, i think 500 something? but he was good.

    can send you hsi name if you pm me.

    October 27, 2014 at 3:06 AM #779584
    CA renter
    Participant

    This is from another thread where we’ve discussed inspectors. It looks like Dan (urbanrealtor), and BG, and I have all used him.

    [quote=CA renter][quote=bearishgurl]I second UR here as my clients and I have used Parra Bldg Consultants several times in the past (used to be father and son but not sure anymore). They are VERY thorough and prefer at least one of the buying parties accompany them (crawl in attic and crawlspace, etc).

    see: http://piggington.com/mold_testing_company_recs%5B/quote%5D

    I third UR’s recommendation. We’ve used them twice, once on a sale we backed out of, and again on our recent house. They were very thorough and professional. Yep, still a father-son-grandkids operation, which we liked, too. 🙂

    BTW, UR/Dan, I told them we got their name from you.[/quote]

    http://piggington.com/any_recommendations_on_a_home_inspector_for_my_purchase

    Congratulations on your (almost) purchase, Ricechex! So happy for you! 🙂

    October 27, 2014 at 3:10 AM #779585
    CA renter
    Participant

    And since you are paying for the appraisal, you should not have to share that information with the seller. I’m trying to remember from when we sold various properties, but I don’t remember getting copies (could be wrong, though). I would talk to the mortgage company about this; tell them that you want to be the ONLY one to get all related paperwork, if that’s what you’d prefer. The agents should only need to know that the appraisal is being done within the loan contingency period. Don’t give them any more personal information than they absolutely need.

    FWIW, most appraisals will come in right at the purchase price, unless the home isn’t worth anywhere near that (I’ve never seen the opposite, where the appraisal comes in higher, but am not a realtor so don’t have that much experience).

    Good luck!

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