Should I keep a contingency on apprasial for a new home purchase?

Q. For new homes, do people usually keep the contingency on appraisal? When I asked about it the home builder got quite defensive. There is no house similar to this in the area and I am afraid it may not appraise. The builder’s finance person said she thought it would be ok.

A. The key phrase here is is – “The builder’s finance person it will appraise”.
Well of course they do.
If you are concerned, it may be worth ordering your own outside appraisal. $500 or so is well worth the peace of mind.

Tags: ,

Top