Ep. 37 Appraisal Turn Time Warning and Refi Boom

Hello! What a time to be in our business! Holy cow! Rates are the lowest they have ever been and tons of people are coming out of the wood work to refinance their current mortgage. That being said, this refi boom will cause a delay in appraisal turn times. It has not happened yet but it will be. Start preparing your buyers and sellers for this. Appraisers in SWFL are going to start getting flooded with orders and this is going to naturally cause them take longer to turn over appraisals. Not the fault of the appraiser but just a reality of the market conditions. This is not the end of the world. I just want to always make you aware of any situations that may be coming up. There may be a few things you can do to help. Here are my ideas and I discuss them in this episode.

• Met the appraiser ASAP.
• Ask the Buyers Agent or a fellow agent to meet the appraiser if you have scheduling conflict
• Buyers agent can offer to met the appraiser is that allows the appraiser to get in to house sooner
• Ask the lender if your buyer qualifies for an appraisal waiver. Check out the past video we did on this to learn more (INSERT YOUTUBE link here and Facebook link for Facebook)
• Longer appraisal contingency dates

Those are just a few of my ideas. Let me know if you have any ideas that I missed.

I would not be doing my job if I also did not mention the historically low interest rates. If you or anyone you know is REMOTELY interested in saving money monthly, shortening the term of their mortgage, debt consolidation, home repairs etc please advise them to talk to a lender today. We all know they will not stay this low. Don’t miss out. Have a great day!