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Back: Appraisal,
Survey, &
Insurance
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Next: Closing!
» Let's say the appraisal has been completed. If the appraisal says the house is worth substantially less than the asking price, then your lender won't loan you the money for that house. You'll either have to get the owner to lower the price, pay the difference in cash, or start the whole process over again with a new house. It's rare that you'd be in this position, because your realtor should let you know if the seller is asking too much for the house before you sign a contract. But if the appraisal says the house is worth around as much as everyone thought it was (or more), then you're ready to buy! There's only one more step, the closing. . |
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Back: Appraisal,
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Insurance
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Next: Closing!
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