for the appraisal at the time it is ordered. This cost can vary depending on the home and/ or location. It can range from $350 - $600 or more. This is a discussion you should have with your lender at the beginning of the process so you are not surprised! The appraiser is a neutral third party that acts as the lender’s “boots on the ground” evaluating the home. They will make sure that the home is truly worth the amount the bank will be lending. They will also make sure that any repairs that could affect the value are requested and, if needed, they will go back out before closing to make sure those repairs were performed. As your home loan closing nears, you will get the “clear to close” meaning that all of the lender and appraisal requirements have been met! You are then one step closer to being a homeowner. There will be some disclosures sent to you to review and accept and you will be notified of the amount of any and all funds you need to pay in order to close. Buyers should be especially careful with wiring money for closing. There have been several cases of wire fraud involving real estate transactions, so take your closing attorney’s, lender’s and agent’s advice on this matter to heart. Always verify wiring instructions and be leary of any “changes” to the established procedure. There are newer laws in place to ensure that borrowers have time to review their closing documents thoroughly. This means that there are strict timelines for everyone to follow. You don’t want your closing delayed because you missed a phone call or an email! Throughout this process, you, your Realtor® and your lender will be in frequent communication to ensure that your transaction runs as smoothly as possible! At the closing (here in Georgia, attorneys perform closings), you will sign all of your documents and get the keys to your new home! Garrett Bennett Branch Manager NMLS #1510504 349 Margie Dr., Ste. 200A Warner Robins GA 31088 D: 478-747-4581 F: 800-282-4805 garrett.bennett@homestarfc.com NMLS #1510504 GA #60344 Branch NMLS #1271178 Copyright © 2018. Homestar Financial Corporation NMLS ID #70864. 332 Washington St. NW Gainesville, GA 30501. All Rights Reserved. Georgia Residential Mortgage Licensee #17368. 31

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