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Get an appraisal done by your bank before scheduling your home and termite inspections

Posted by SanLuisOpisboMom.com on Wednesday, December 18, 2013

After you have put in your buying offer and the seller has accepted it, it's time to start calling the bank that gave you that pre-approved loan letter to start getting the motions into place.

The bank will not loan you the money if the appraised price of the home you want to buy is not below the amount of the loan or at most, equivalent to it. It can't be overpriced. Otherwise, you'll have to figure out a way to put down more money to offset the difference. You don't want to be overpaying for a house anyway so getting an appraisal done first is a good way to know that. If the appraisal is good, you will know that you can call your home inspection and termite inspection companies next. You don't want to waste money on these inspections if the bank is not going to approve the loan for that particular house. A home inspection can cost anywhere between $350 - 450 and a termite inspection can be between $100 - $150 for this part of town. So remember to call your bank right away after the offer contract has been accepted. 

And remember, if there is not a written contract and signatures from both sides, there is no binding contract in the real estate world. A verbal agreement to accept the offer is not enough in the court of law. 

Office Supplies for the Remote Worker

Most of my work is independent work where I'm just hashing out projects from my computer and communicating with my teammates via email and chat so working remotely from coffee shops requires me to continually upkeep my office supplies. Here are the supplies I usually bring with me, when I'm remotely working outside of the home:

  • Noise Canceling Headphones with Microphone - I've had web meetings from a coffee shop before. My noise cancelling headset makes such a big difference and really helps keep my work life professional, as well as keep distractions to a minimum since it could get noisy in a coffee shop.
  • Extension Cord - I'd also bring my extension cord in case the closest outlet from where I'm sitting at is more than a couple of feet away. Usually a 3 foot extension cord is enough to give me the right reach without the unnecessary clunkiness that a 10 foot extension cord has.
  • Notebook Paper and Pens - When needed, the old fashion note taking can be a life saver. Getting a pretty notebook and pen set or themed set really sets a good mood for me when I see them at my desk.

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Tags: home buying  appraisal done by your bank  home inspections  termite inspection 
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San Luis Obispo Mom Originally from San Diego, California, I'm a San Diego State University alumna, veteran's wife and mom of two kids who were born two years apart. After living on the East Coast for 6 years, we now reside in San Luis Obispo County and here, the exploration continues. In between work and momming it, I like to exercise.
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