Final Loan Approval? No, But a Good Omen . . .

Financing “Vote of Confidence”

One of the best, early signs that the Buyer’s lender is on top of things — and a good omen for final underwriting approval generally — is when the lender orders the appraisal for the day after the Buyer’s inspection removal deadline.

My logic?

While the appraisal will need to be rescheduled if there’s an inspection hiccup, most of the time, there isn’t.

So, assuming the inspection goes smoothly, the appraisal will occur as scheduled, without any prodding or follow-up required on the listing agent’s part.

In turn, a lender who expeditiously orders the appraisal is signaling that they’ve received the file from the Buyer’s lender, and knows when the Buyer’s Inspection Contingency expires.

A lender who knows that date very likely also knows the Written Statement deadline, and the closing date.

See also, “The 2nd Most Important Date in a Home Sale.”



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