If the buyer is getting a mortgage for the purchase, most likely, they will have an appraisal completed of the property. In this case, the appraisal is the second really big hurdle to jump.
Usually, the lender will order an appraisal after the option period and the buyer knows they are moving forward with the purchase of the house.
We have it set up for the appraiser to contact us to schedule this appointment. We will relay this information to you. There is no need for you to leave the house while the appraiser is there. They will usually take no more than 30 minutes.
Once the appraiser completes their paperwork, they will send it to the lender and buyer. In most cases, we will not get a copy and in a lot of cases we won't even know the exact value, just rather is it "made the sales price" or not.
If the buyer is paying cash, there typically will not be an appraisal, unless they are using a program like Homeward.
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