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Health & Fitness

I Order Great Weather for Weekend. Some Real Estate Changes

Great Weather and Appraisal changes in Real Estate this weekend

  Big changes in the world of appraisals.  It is now mandatory for lenders to supply a copy of the home appraisal to every borrower.  Not only the appraisal, but any other valuation method lenders use to determine value for a property.  Second appraisals, desk reviews, drive-by appraisals (yes, they still exist), electronic valuation methods, etc.  Anything and everything.  These must be supplied to the borrower at least 3 business days prior to closing.  Borrowers will be given the ability to waive this right to receive the valuation materials, but I don’t suspect most will.  This is all being done by the Consumer Financial Protection Bureau, with an emphasis on “consumer.”  Here’s an article about it from the LA Times, in case you want to read up on it.  http://articles.latimes.com/2014/jan/19/business/la-fi-harney-20140119

Great Weather this weekend.  Great time to look at property for sale.  Contact me if you like to go out.

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Phoebe Woods Orsini, Realtor, Keller Williams Flagship of MD,               Direct 240-593-4128 Office 410-721-7700, PWORealtor@yahoo.com

 

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