Hello Michael, well if its appraisal comes in less than the purchase price that helps the buyer, not the seller, but in today's market the seller is in control of everything, feel free to contact me I will be happy to answer all your questions.
Great question Michael, A home inspection gives you peace of mind knowing if the home has transaction-cancelling issues. The main purpose of the appraisal is to protect the bank because they pick the appraiser to protect the investment they're making on the property.
Home inspection is not mandatory even through in my opinion EXTREMELY important and is done during the attorney review/due diligence period. This is when you'll learn more about the condition of the home and make a decision to either proceed, back out or negotiate credits/repairs with the seller. The Appraisal is done during the mortgage contingency process and is required by the lender to make sure the value of the property is at or above the sales price. This helps a buyer to make sure theyre not over paying for the property. Hope this helps! if you have any other questions, I can be reached at 773-516-1111. I run a 25 broker team selling well over 150 million annually and do over 400+ transactions so pretty savvy when it comes to different scenarios. Good luck with your journey!
An inspection helps the home buyer learn about the home. A home inspector will also see if there are any major things that could be wrong with the home. Appraisal are usually required by lenders and the only time it could help the buyer is when the home does not appraise.
FHA loans are one of the most common types of home loans, especially for first-time homebuyers. An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). FHA loans are designed to help lower-income and first-time homebuyers by allowing them to purchase with lower down payments and less stringent credit requirements.
There are many reasons why someone would want to learn who owns a specific property. As a buyer, you might want to discover why someone is selling the home. This could help you make a competitive offer based on what you discover. Investors also look up property records if they want to make offers on distressed or abandoned houses. It might not
Owning real estate comes with the tax burden of property taxes. In cases where property owners encounter financial difficulties, these taxes may go unpaid, leading to what are known as delinquent taxes. Delinquent taxes on a property occur when the owed property taxes have not been paid by the deadline. Sometimes, the best option for these own
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