Brian Olsen, Your Utah Realtor
Increase Your Confidence and Reduce Your Risk
A recent situation has urged me to share with you a couple things you need to know specifically as a buyer (somewhat as a seller) about appraisals.
As a buyer, you need to get the appraisal; the lender is going to order the appraisal, the appraisal will come in. You need to know that you have a right to that appraisal. There was a law passed in 2010; the Equal Credit Opportunity Act and that law said that the lender is obligated to give you, the buyer, a copy of the appraisal. And they’re supposed to give it to you promptly after they receive it or within three days of closing, whichever one is earlier.
Now why should you make sure you get that appraisal? You’re going through the lending process and need to make sure you have the correct value of that property. Look and review what the comparables were and what was used in some of the properties.
This is an instance where having a Realtor will become beneficial to you. Your realtor will start working with the seller’s agent because that agent is going to know the specific area. They’ll know what comparables they looked at when they originally priced the home. This is critical because sometimes you’ll get a comparable of a home that’s the same acreage, same square footage, but it may have been distressed or have a problem. The listing agent is probably going to know all of these details.
So make sure you get that appraisal! Your lender not only is obligated to give you the appraisal but any additional paperwork, any reviews…anything else that he’s using to get your loan put together or that the appraiser used to come up with the appraisal of the property.
It is critical that you know this! Take the opportunity to work with your lender, let him know as soon as the appraisal comes in: “Give me a copy of the appraisal. I want to review it, I want to make sure that I’m getting some good value in my property.”
If you have a question about appraisals give me a call, shoot me a text or message and I’d love to help you.
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Hey everyone, I’m in Red Ledges today and I have Sean Dixon with Ascend Design and Development. Anyway, I just wanted to take a second to introduce you to him because I often talk to clients about getting in the design phase with their architect and just from the beginning, do your design and get your all your finishes.
Anyway just a couple comments if you would, I mean we can’t go through everything you’ve been showing me for about the last twenty minutes. If anybody’s gonna be OCD this is the guy you want to be OCD. Just sell yourself for a minute if you would, so that my clients and people I contact can have an idea of what you can do for them. You’re located down in the valley, but you’re working a lot up here? Correct. And you said also in California?
Yeah, well clients in California, but the main thing that I kind of offer to a lot of people is a high attention to detail with the knowledge of construction. So that I can dictate to the subcontractors how to bring things together in a very precise manner. And then by being involved throughout the process, I can ensure that the house has a very congruent and consistent kind of theme and feel. Precision is my big thing, I mean a lot of people talk about details, but I do details with absolute precision. So I obsess over all kinds of things, not just what light fixture, but the direction the light fixture is installed or you know the little bolts up on the ceiling, are they lining up correctly, and all kinds of little details for example.
Well, the triple membrane on the deck and the elevation of the spigots. Let me just show for example, okay, we’ve got these light fixtures on the floor right here. Those were the light fixtures that were above this bar right here. And Shawn was looking at how the light was reflecting up and he didn’t like how that light was reflecting up and so he got new light fixtures.
So not everybody’s going to be into detail this much, but whether you want your home to be detailed, I mean from beginning to end, from top to bottom, somebody like Shawn is who you need to get a hold of. Even if it’s just to design a part of the home and say, “Hey we want our kitchen and dining area to be at this level.” I mean really, they need to get with you from the beginning and say okay this is what we want, and then get with the architect and go from there.
Right, yeah and if you have an architect great and if not I’ve got some really good ones that I work really well with, so we can work together. And a lot of Architects will charge additional fees to do on-site visits to make sure things are going together, but some of them I partner with don’t do that because they trust that I’ll be there making sure things go together the way that they should go together.
Excellent. Okay you guys, any questions get with me. I’m gonna definitely have his contact information for you if you need it. Take care, thank you.