Step 13 - The Appraisal.
The Buyer's lender always requires that a property be appraised prior to funding. Your Pacifica West Properties agent will make sure that the appraisal is ordered and scheduled at your convenience, as the appraiser will need to quickly inspect the interior of the premises.
The property appraisal is traditionally paid for by the Buyer. In the rare instance that property appraises for less than the purchase price, you could have a problem, as there may be a minimum appraisal contingency in the R.P.A. In this instance, your agent can challenge the appraisal and provide comparables to justify the selling price. It should be noted that due to Pacifica West Properties accurate pricing methods, we have NEVER had an appraisal problem with our sold listings!