Question: Just a quick question: Should I agree on a price first for a hous, or spend the 500 bucks to get the loan and apraisel first?

Thank you in advance.

Answer: IMHO, the whole process is a lot easier if you sit down with the lender first and find out how much of a mortgage loan you’re qualified for. That, plus the amount you have available for a down payment, will determine the top price you can pay for a house. Once you have that out of the way you’re in a stronger bargaining position because you have assurance that you are already approved and qualified as a buyer.

Don’t pay for an appraisal until you have the price negotiated, and the deal accepted by the seller. If you paid up front for an appraisal and the seller rejected your deal, you’re out the $500 with nothing to show for it. Hope this all helped.

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