The Appraisal & Underwriting Process — What Happens After Inspections?

Once inspection negotiations are settled, most buyers feel a sense of relief.

The hard part is over… right?

Not quite.

After inspections, your transaction moves into two important phases that often feel confusing and quiet: the appraisal and loan underwriting process. This is where many buyers start to feel anxious again — mostly because they don’t always understand what’s happening behind the scenes.

Let’s break it down.

The Appraisal: Protecting the Lender (and You)

An appraisal is ordered by your lender to determine the home’s market value. The lender wants to be sure the property is worth the amount being borrowed.

The appraiser will:

• Visit the home

• Compare it to recent similar sales

• Evaluate condition and features

• Provide a professional opinion of value

If the home appraises at or above the contract price — great. Things move forward.

If it comes in lower, that doesn’t automatically kill the deal. There are options:

• Renegotiate the price

• The seller can reduce the price

• The buyer can bring additional funds

• Or both sides can meet somewhere in the middle

This is another moment where having experienced guidance matters. Low appraisals aren’t common in a well-priced home — but they do happen, and there’s a process for handling them calmly.

Underwriting: The Final Loan Approval

While the appraisal is happening, your lender is deep in underwriting.

Underwriting is the lender’s final review of:

• Your income

• Employment verification

• Assets

• Credit profile

• Debt-to-income ratio

• Supporting documents

This is often the stage where buyers say:

“Why are they asking for more paperwork? I already gave them everything!”

It’s normal.

Underwriters are thorough because the lender is making a large financial commitment. Requests for updated bank statements, pay stubs, or explanations are part of the process — not a sign something is wrong.

Silence during underwriting can feel uncomfortable, but it usually means the file is simply moving through review.

Why This Stage Feels Quiet

After the fast pace of inspections and negotiations, this part can feel slower.

There aren’t showings.
There aren’t repair discussions.
There aren’t emotional back-and-forth conversations.

Instead, it’s documentation, valuation, and final approvals happening behind the scenes.

But even when it feels quiet, important milestones are being reached.

Staying Calm and Focused

During this phase, the most important things a buyer can do are:

• Avoid large purchases or new credit accounts

• Keep finances stable

• Respond quickly to lender requests

• Stay patient

This stage is about protecting your loan approval and keeping everything on track for closing.

What Comes Next?

Once the appraisal is accepted and underwriting issues a “clear to close,” you’re officially in the final stretch.

That’s when we prepare for the final walkthrough and closing day — the moment everything becomes real.

Thinking about buying a home on Maryland’s Eastern Shore?

Whether you’re just starting to look or already under contract, I believe you deserve clear answers and steady guidance every step of the way. If you ever have questions about the process, I’m always happy to talk them through with you — no pressure, just straightforward advice.

Real estate doesn’t have to feel overwhelming — you don’t have to figure it out alone.

— Shawn Long
ERA Martin Associates
www.ShawnSellsDelmarva.com