APPRAISAL ordered Your lender will arrange for a third party appraiser to provide an independent estimate of the value of the house you are buying. The appraisal lets all parties involved know that the offer price is fair. The loan file then moves to the mortgage underwriter. If approved, you will receive your final commitment letter that includes the final loan terms & percentage rates.
PROPERTY TITLE SEARCH
HOMEOWNERS INSURANCE
This ensures that the seller truly owns the property and that all existing liens, loans or judgments are disclosed.
You'll need insurance for the new home before closing. This will protect against things like fire, storms, and flooding.
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