Let Us Take the Appraisal Risk
At Gibson Home Loans, we offer our clients an incredible advantage by taking the appraisal risk for them! We will pay for the appraisal and order it on the first day. This allows clients to maintain deadlines. Some clients may not want to take the risk before the inspection has been completed, which is why we are willing to take on the risk for them.
The appraisal cost will be reimbursed to us at closing, and the client will not pay the appraisal cost if they do not close. We offer a ten-day appraisal guarantee and we can close in as fast as 15 days with an appraisal.
Appraisal Process
To start, as we all likely know, appraisers are looking at the condition of what’s permanently part of or attached to the house. They are not looking at the décor, furniture, or anything that’s not affixed. What’s most important are the home’s physical characteristics (age, square footage, the number of bedrooms and baths, lot size, location, view) as well as their observable condition.
Appraisal Cost
In general, the cost of an appraisal varies from state to state. Most appraisals in Colorado range from $350 – $500, with the national average being around $335, according to HomeAdvisor. The cost of an appraisal is determined by the following:
- The type and size of the home
- Location of the home
- Condition of the home
- The amount of work and time required for the appraisal
While this may not include everything, these factors affect the cost. The amount of time, effort, and work that goes into the appraisal ultimately influences the price. For example, a larger home or multiunit property has more space to walk through and assess.
For a home with unique characteristics, the appraiser may have a difficult time finding accurate comps because certain features could make that home one of a kind. It can also be difficult for appraisers to find comps that are similar to a home when the home is located in a remote area with not much around it or a similar home nearby. When deeper research is required by the appraiser, it may end up taking more time.
Appraisal Expiration
For the most part, home appraisals are good for 120 days (4 months). If a client does not close on their home within that time, a client may need to have another appraisal. In some instances, an extension may be allowed. Appraisals have a short lifespan because market conditions change frequently. Most home sales from 6 months ago are likely very different from recent home sales, especially if the real estate market is unstable.
We’re Ready To Help
In order to help alleviate some stress for your clients, let us take the appraisal risk! On day one, we will pay for the appraisal to allow clients to better maintain deadlines.
We’re ready to help if you’re ready to work with us. Here is the link to our application to begin the process: http://chrisandbrandongibson.floify.com/apply-now
Gibson Home Loans
In order to give you more insight, here is a little bit more about us. We are brothers and Colorado natives and began in the mortgage industry in 2019, serving mostly friends and family, client satisfaction and referral business is our focus. We are an online resource for personalized mortgage solutions, fast customized quotes, great rates, & service with integrity.
As brokers licensed to originate loans in all of Colorado, we primarily utilize United Wholesale Mortgage to offer the highest quality service and technology to make the mortgage process as easy on our clients as possible. We reduce our compensation to attempt to secure the lowest rates and costs possible for our clients, as well. Lastly, we want to provide the best service AND the best rates.
Home Loan Originators Christopher Gibson & Brandon Gibson at C2 Financial Corporation: inforequest@gibsonhomeloans.com | (303) 332-5523
This licensee is performing acts for which a real estate license is required. C2 Financial Corporation is licensed by the Colorado Department of Real Estate, NMLS # 135622 NMLS# 1910935. Loan approval is not guaranteed and is subject to lender review of information. All loan approvals are conditional and all conditions must be met by the borrower. The loan is only approved when the lender has issued approval in writing and is subject to the Lender conditions. Specified rates may not be available for all. Rates subject to change with market conditions. C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender. The services referred to herein are not available to persons located outside the state of Colorado.
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