My husband and I are in the early stages of purchasing our first home together. Neither one of us has ever owned a house so we are learning about the different steps needed to do so. It's not as simple as finding a house you like and getting a loan, there's much more to it than that. To start, we got prequalified to determine what price range we could afford. Then we found a house we liked and made an offer to purchase. Next, we hired a Sacramento appraiser to perform a standard house appraisal which was required by the mortgage company.
A standard house appraisal is the most common type of appraisal that is used in most situations. It includes a full inspection of the home and contains a full neighborhood and property description in the final report. I guess the mortgage company requires this so as to ensure the property they are lending money for is actually worth the amount of the loan being requested. They want to make sure the house and property are in good condition and don't have any hazards or need any excessive repairs that would cost the consumer more unexpected expenses.
I'm kind of glad this step is required because I don't want to find any surprise maintenance problems once we secure our new home. That could be disastrous and very costly. The particular appraisal company we are using comes highly recommended by our mortgage company. They were extremely easy to deal with and are very quick and responsive to returning our phone calls. An appointment was scheduled to inspect the property during our very first telephone conversation. The appointment was scheduled much sooner than I anticipated and we were promised the appraisal report within three days. Regardless of the outcome of purchasing this house, I would recommend this company to my friends and family.