Sellers

• Update your mailing address at usps.com or fill out a change-of-address form at your local post office.
• Change your address with important service providers, such as your bank(s), credit companies, magazine subscriptions, and others.
• Create a list of people who will need your new address.
  Whether you plan on sending formal change-of-address notices in the mail or just e-mailing the family members, friends, and colleagues who should be informed, a list will ensure no one gets left out.
• Contact utility companies.
  Make sure they’re aware of your move date, and arrange for service at your new home if the service provider will remain the same.
• Check insurance coverage.
  The insurance your moving company provides will generally only cover the

Once you are under contract, your lender will send out an appraiser to make sure the purchase price is in line with the property’s value.

Appraisals help guide mortgage terms.

The appraised value of a home is an important factor in the loan underwriting process. Although lenders may use the sale price to determine the amount of the mortgage they will offer, they generally only do so when the property is sold for less than the appraisal amount. Also, the loan-to-value ratio is based on the appraised value and helps lenders figure out how much money may be borrowed to purchase the property and under what terms. If the LTV is high, the lender is more likely to require the borrower to purchase private mortgage insurance.

Appraised value is not a