Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - House Appraisal before mortgage gets insured

shane_c · 06-19-2006, 09:46 AM

Well, we applied for and got a mortgage, signed the purchase agreement and are about to give the downpayment to the vendors but we find out that GE is wanting to do a house appraisal before they will insure the mortgage. The bank is still sending the papers through to the lawyers though in the hopes of not delaying our June 30th closing. GE is supposed to do the appraisal by Wednesday of this week. What can I do to be prepared for this? What will they be looking for? So far, the only thing I've done is print off a few similar places in the neighbourhood that are going for 10,000-30,000 more. I can't see why they would say it wouldn't be worth what we're going to pay given todays market but our luck that's what will happen.

06-19-2006, 09:46 AM	#1
shane_c Powerplay Quarterback Join Date: Jul 2004 Exp:	House Appraisal before mortgage gets insured Well, we applied for and got a mortgage, signed the purchase agreement and are about to give the downpayment to the vendors but we find out that GE is wanting to do a house appraisal before they will insure the mortgage. The bank is still sending the papers through to the lawyers though in the hopes of not delaying our June 30th closing. GE is supposed to do the appraisal by Wednesday of this week. What can I do to be prepared for this? What will they be looking for? So far, the only thing I've done is print off a few similar places in the neighbourhood that are going for 10,000-30,000 more. I can't see why they would say it wouldn't be worth what we're going to pay given todays market but our luck that's what will happen.