It is completely natural to want to test the high end of the market when selling your home. However, pricing a property above fair market value is one of the quickest ways to stall momentum. The Dangers of an Inflated List Price Appraisal Hurdles: Even if an overly optimistic buyer is willing to pay above market value, the lender's independent appraiser may disagree, causing financing complications...
Real estate contracts are packed with legal terminology, but purchase contingencies are your ultimate safety net. Think of them as legal exit clauses that allow you to cancel the purchase contract and recover your earnest money deposit if specific conditions are not met. The Three Main Contingencies The Inspection Contingency: Gives you the right to hire professional inspectors to evaluate the...
Falling in love with a home is easy; budgeting for everything that comes after closing takes a bit more foresight. Many first-time and seasoned buyers focus intensely on the down payment, only to be surprised by out-of-pocket expenses that materialize during or immediately after escrow. What to Keep on Your Radar Closing Costs: Typically ranging from 2% to 5% of the loan amount, these cover lender...