~ Sand Shark ~
Planning for the unexpected
I'm doing a refinance for a borrower, and the property appraised at $328,000. That's less than the owner had hoped for, but just fine for the $172,000 refinance.
Even so, because the property is not on a paved road, I made it a point to drive out and see the neighborhood for myself. This is something I recommend for any lender because of the difficult real estate market that's our reality right now.
Eyeball the property before your appraiser does. It will give you an idea as to what problems may crop up on the appraisal beforehand, and help you navigate away from them.
The only surprise this time was this sand shark, but I always have my camera with me...
I'm Mike in Tucson, your preferred Tucson Mortgage Lender.
SUNSTREET MORTGAGE llc ~ Correspondent Mortgage Bank
Offices (AZ) Mesa, Tucson, Sierra Vista, Nogales, and Albuquerque, NM.
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