Answers by Brenda Ashby

Hi Beckett! Yes, it may be possible to sell just one lot of your inherited lake property without affecting the family's ownership of the remaining lots. The first step is determining how the property is legally titled. If each lot has its own legal description and the ownership is clearly established, selling one lot may be relatively straightforward. However, if the entire property is held jointly by you and your adult children, all co-owners would generally need to agree to the sale and sign the necessary documents. You'll also want to confirm whether the lot can be sold independently or whether a subdivision, new survey, or plat approval is required. In Texas, local subdivision regulations can affect how property is divided and transferred. Since your longtime tenant is interested in purchasing, I recommend starting with a title company and a Texas real estate attorney experienced in inherited property. They can review the deed, ownership interests, and any restrictions before you negotiate a sale. The good news is that selling one cabin and its lot does not necessarily mean selling or dividing the entire family property. The key is making sure the transaction protects everyone's ownership interests while allowing your tenant to become a homeowner. After six years of renting, it's encouraging that your tenant wants to make the property their own! Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Dave, if you're referring to the rule requiring a written buyer agreement before a home tour, that change actually took effect on August 17, 2024, not August 2025. Based on what you described, it likely would not apply simply because the flipper or owner allowed you to walk through the property. The rule applies when an MLS-participating real estate professional is working with a buyer and conducts or arranges a tour. An owner showing their own property or a listing agent merely giving an unrepresented prospective buyer access to the property is generally different. In Nebraska, the seller still has disclosure obligations when selling residential property. Nebraska law requires the seller to provide a written property condition disclosure to the purchaser, including known material defects, by the time the buyer becomes bound by the purchase contract. The fact that you initially stopped by, knew the flipper, or toured the property while renovations were underway would not by itself eliminate those disclosure requirements. If your concern is about something the flipper failed to disclose after the renovation, that becomes a different and more important question. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Hi Stephanie! Since you own four rental properties in Oklahoma, you may have financing options even with bad credit. I would recommend looking into a DSCR cash-out refinance or an investment property equity loan. These lenders consider your rental income, property values, and available equity, although credit scores still matter. You might also contact Rural Enterprises of Oklahoma in Durant at (800) 658-2823, which offers small-business financing assistance, or the Oklahoma Small Business Development Center for guidance. Before applying, gather your property values, mortgage balances, rental income, and operating expenses. Since you're starting a business, I would also recommend opening a separate business checking account to keep your finances organized. One caution: Avoid high-interest loans that could put your rental properties at risk. Compare several lenders before using you real estate as collateral. Wishing you success with your new business! Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Ingrid, to hear about the loss of your mother. Know that you do not have to decide right now between assuming and losing the house or feel like you are being force into a new loan. Since the lender can not call the loan due and payable, you are allowed to keep making payments under your mom's existing note, at her existing rate, indefinitely without assuming the loan. However, it may be worth assuming the FHA loan, especially if your mother had a low interest rate. The bigger question is whose name is on the debt and what that could cost you later. If you keep making payments without assuming the loan, it may remain under your late mother’s name and Social Security number, so those payments generally won’t help build your credit. If you later want to refinance, access equity, or change the financing, you may still have to complete the assumption process or get a new loan at whatever rates and terms are available then. If you assume now, ask the servicer to confirm in writing that you will keep the existing interest rate, balance, and remaining term. You’ll likely go through a qualification review, pay the assumption fee, and become the borrower legally responsible for the mortgage. Also remember that assuming the loan and transferring legal title are separate issues, so make sure the estate/title side is handled properly too. If the current rate is well below today’s rates and the fees are reasonable, assuming the loan could be a very good financial move, while you have the option and the rate is locked in. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Ezra, I'd focus on safety, structural issues, and major systems, rather than asking the seller to correct every item in the report. The deck with no proper footings would be the bigger concern. If the inspector believes it is structurally unsupported or unsafe, it is reasonable to ask the seller to repair, obtain a qualified contractor's evaluation, or provide a credit toward correction. A rattling bathroom fan is a small maintenance item. Unless it isn't working properly, presents an electrical issue, or is causing a ventilation/mositure problem, I probably wouldn't make that a major negotiation point. For other items your attorney is recommending, ask: Is this a safety issue, an expensive defect, or something that could affect the property's structure or function? If not, it may be better to let the smaller items go and concentrate your negotiating leverage on the issues that really matter. Inspection issues are still negotiable; however, the seller is not automatically required to fix everything you request. Your agent and attorney can help you decide which items are important enough to push for under your specific Arizona contract. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Wren, I wouldn't look at price alone; I'd compare certainty, timing, contingencies, and your actual net proceeds. Of the three, the full-price offer with regular financing may be the strongest if the buyer is well qualified, has a solid preapproval, reasonable inspection terms, and sufficient appraisal coverage. The cash offer could be attractive even at a lower price because there's no financing or appraisal risk, so I'd consider countering them rather than immediately accepting the discount. The full-price offer contingent on the buyer selling their home first carries the most uncertainty because your closing depends on another transaction happening. I'd have your agent put all three offers side by side: price, earnest money, financing, inspection, appraisal, closing date, contingencies, and estimated net. You may also be able to counter the strongest offer while keeping another as a backup. On a multifamily property, the highest offer isn't always the best offer. The best contract is often the one most likely to actually close on acceptable terms. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Thank you for your question. I understand your concern, especially when you're living in a building that seems excessively dusty and you're worried about your health. I wasn't able to verify the exact year that 307 French Street, Peshtigo, WI 54157 was built. However, you can contact the Marinette County Property Listing Department at (715) 732-7548 to request the property's construction year and assessment information. Regarding asbestos, if the building was constructed or renovated before the 1980s, there is a possibility that asbestos-containing materials were used in flooring, ceiling tiles, insulation, or other building components. However, excessive dust does not automatically mean asbestos is present. Dust can also result from poor ventilation, aging ductwork, deteriorating building materials, or inadequate maintenance. Here's what I recommend: 1. Verify the building's age through Marinette County property records. 2. Notify your landlord or property manager in writing, if you're renting, and request an inspection of the dust and ventilation issues. 3. Consider a certified asbestos inspection, particularly if building materials are damaged or deteriorating. Wisconsin's Department of Health Services maintains information about certified asbestos professionals. 4. Avoid disturbing suspicious materials until they have been professionally evaluated. If the building was constructed before 1978, lead-based paint and lead dust may also be concerns worth investigating. Blanca, your health and safety should always come first. You deserve to feel comfortable and safe in your home, and I would encourage you to have these concerns investigated rather than simply accepting the excessive dust as normal. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Sawyer, you're doing the right thing by hiring your own real estate attorney. The seller's attorney represents the seller, not you, so you want some reviewing the contract solely for your side. Seller-paid closing costs, credits, concessions, and a home warranty are all negotiable items, but they are not automatically included in a purchase. Whether you can add them now depends heavily on whether you have already signed the contract and what contingencies or attorney-review provisions it contains. Before moving forward, I would have your attorney review more than just the closing-cost language. Make sure you understand the inspection contingency, financing/appraisal contingency, deposit terms, title requirements, closing date, default provisions, included/excluded property, repair responsibilities, and your ability to cancel and recover your deposit. Your mortgage broker can tell you how much seller credit your loan program allows and whether a credit would meaningfully reduce the cash you need at closing. A home warranty can also be requested, but I would prioritize protecting the major contractual and financial issues first. And don’t beat yourself up about not having an agent. At this point, the goal is simply to stop going forward without independent representation. Do not sign an amendment, waive a contingency, or release additional money until your attorney has reviewed exactly what you are agreeing to. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Adelina, if you still have the ability to sell the home before foreclosure, I would explore that option first. A foreclosure can seriously damage your credit and generally remain on your credit report for seven years. A "we buy houses" company may offer a fast, as-is sale, but the tradeoff is often a lower price. Before accepting anything, find out your home's as-is sale value, your mortgage payoff, and what you would actually net. Because you're going through a divorce, involve your attorney before signing anything. The main goal is to protect as much equity as possible and keep control of the sale rather than letting the home go into foreclosure. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Hazel, I understand your concern, especially when you're receiving low offers from investors while facing a potential $17,000 repayment to the City of Providence. The good news is that you are not responsible for verifying a buyer's income. That determination should be made by the city or the authorized affordable-housing program administrator or monitoring agent. First, review your recorded deed restriction and original affordable-housing agreement. These documents should establish the 20-year restriction, income eligibility requirements, resale conditions, and circumstances that trigger the repayment. Your agent and a Rhode Island real estate attorney should review them before you accept an offer. Second, obtain written confirmation of the buyer's eligibility. Generally, buyers submit documentation such as tax returns, pay stubs, employment verification, and information about household income and assets. The authorized administrator compares that information against the applicable HUD income limits and issues an eligibility determination. A mortgage preapproval alone does not establish affordable-housing eligibility. Rhode Island's Monitoring Agent Program guides this process. Third, can you require an unqualified buyer to pay the $17,000? Potentially, yes. You can negotiate a purchase agreement requiring the buyer to cover an allowable repayment through closing. However, there's an important distinction: paying the $17,000 does not automatically make an otherwise prohibited sale permissible. Before negotiating with an investor, request written confirmation from the city that a nonqualified sale is permitted, along with the exact repayment amount and any required release of restrictions. My recommendation: Have your agent contact the program administrator before accepting additional offers. Ask for the approved resale price, buyer eligibility requirements, certification procedure, and written payoff terms. Also, consider marketing directly to income-qualified, owner-occupant buyers rather than relying solely on investor offers. Hazel, that $17,000 should be part of your net-proceeds calculation, not an unpleasant surprise at closing. A knowledgeable local Realtor, working alongside your closing attorney and program administrator, can help you compare offers and protect your financial interests. The goal is not simply to find someone willing to purchase your home. It's to find a buyer who can successfully close while allowing you to retain the most equity legally possible. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Sandra, the short answer is yes: if five relatives are legal owners of the 30 acres together as joint tenants or tenants in common, one can ask a court to force a partition of the property, even if the other four do not want to sell. Under Minnesota's current Partition Act, a co-owner can seek a division of the land, a sale of all or part of it, or another equitable solution according to each owner's interest. It does not mean the entire 30 acres will be sold just because one person wants out. The deed, each person's ownership percentage, and whether the land can reasonably be divided would be important. I would highly recommend speaking with a real estate attorney before taking action. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Walton, a reverse mortgage can make sense even when you don't need the money, but I would look at it as a financial planning tool rather than free cash. Since your home is paid off, your other income already covers your expenses, and leaving the house to heirs isn't a priority, using some of the equity to travel and enjoy retirement may fit your goals. One option worth exploring is a reverse mortgage line of credit rather than taking a large lump sum. With a HECM line of credit, you generally pay interest and ongoing loan costs only on the amount you actually use. In your situation, I wouldn't ask, " Do we need the money?" I would ask, is accessing some home equity the most cost-effective way to fund the lifestyle we want? Compare the reverse mortgage with simply using existing income, rental cash flow, investments, or possibly a HELOC. If preserving your investments and having flexible access to home equity is valuable to you, a reverse mortgage may be worth considering. Before deciding, I'd have a HECM specialist run the actual numbers and review them with an independent HUD-approved reverse mortgage counselor and your financial or tax adviser. The numbers, not just the fact that you have substantial equity, should drive the decision. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Priya, you may not automatically owe for the siding repair. The key is what caused the damage and what your post-closing possession agreement says. If the tree and downed wire caused the siding damage, that may be treated differently than damage caused by you or your contractor. Since you already paid to restore the electrical service, I would not agree to pay for the siding until your agent reviews the contract and possession agreement. Ifthere's any dispute, have an Ohio real estate attorney review the documents before you agree to additional repairs. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Fenwick, ask both companies for the written servicing transfer notice. That document should show the exact date the old servicer stopped collecting payments and the new servicer took over. Ask the original lender why they are requesting your August payment and whether they are still servicing the loan. Ask the new servicer whether August is actually due, why your account shows $0, and whether they received your full payment history. Get everything in writing and keep copies of statements, emails, and payment records. During the first 60 days after a servicing transfer, federal rules generally protect you from a late fee if you accidentally send a timely payment to the old servicer. Most importantly, don’t ignore the payment. Before sending money, confirm which company was responsible for collecting it as of the transfer date. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Gavin, you're on the right track, but I would treat the 28K per unit as a rough screening number, not your actual exposure. If the SIRS identifies roughly $3 million of roof, plumbing-riser, and waterproofing work, and there are 96 units, $3M ÷ 96 is approximately $31,250 per unit before applying reserves. Assessments may be allocated according to each unit's percentage ownershi/common expense share rather than equally per door. Also, some reserve funds may be pooled, some projected work may occur in different years, and the association could fund the work through reserve dues, a special assessment, financing, or some combination. I would ask for and focus on the full SIRS and milestone inspection, not just a summary, before your inspection period expires. Florida law requires the SIRS to identify the components inspected, estimated remaining useful life, estimated replacement or deferred maintenance cost, and a recommended funding schedule. The estimated project cost should look something like this: - reserves actually available for that component/pool - already approved financing = potential funding shortfall. Also review any proposed assessments, association loans, contractor bids, reserve balances, and recent board minutes. On a 1987 oceanfront building, I need a clear answer to four things before moving forward: What work is needed, when is it needed, what will it cost, and how much is already funded? If the documents don't clearly answer those questions, I'd have a real estate attorney or condo specialist review them before your contingency exires. Brenda Ashby | REALTOR® | JohnHart Real Estate }| DRE License # 01700249

Marisol, patience isn't really a strategy. The key is figuring out why buyers are hesitating before making another adjustment. Your $30,000 reduction did its job; it created a new wave of showings. The fact that activity faded again suggests buyers may still be struggling with either the overall value or the monthly payment. Right now, with the average 30-year mortgage rate around 6.95%, affordability is still a major issue for financed buyers. A seller credit toward a rate buydown or closing costs can sometimes have a bigger impact on a buyer's monthly payment than another $10,000 price reduction. Price and credits solve different problems. Another price reduction can help if you need to enter a new search bracket or competing homes are clearly offering better value. A credit can be more effective if buyers like the house but the payment is stopping them. y Three weeks after the last reduction is not necessarily too soon to make another move. I'd ask your agent to review the newest competing listing, recent pending sales, showing feedback, online activity, and whether buyers specifically mentioned price or payment. I wouldn't automatically cut another $10,000. Diagnose the problem first, then use the incentive that addresses the actual objection. Brenda Ashby | REALTOR® JohnHart Real Estate | DRE License # 01700249

Bridget, at two weeks past the scheduled closing date, I would stop relying on verbal promises and have your agent and closing attorney review the contract immediately. If you used the standard North Carolina Offer to Purchase and Contract (Form2-T) and it wasn't materially modified, the contract generally provides a 7-day permitted delay after the Settlement Date. If the buyer is the delaying party and closing still hasn't occurred after that period, the buyer may be in breach, and you may have the right to terminate the contract. The contract does not simply disappear when the closing date passes. Also important: under the standard NC contract, a buyer's obligation to purchase generally is not contingent on ultimately obtaining their loan. Financing and loan qualification are matters the buyer is expected to investigate during the due diligence period. You cannot impose a new financial penalty on the buyer unilaterally just because you are carrying two mortgages. If you are willing to give them another extension, you can negotiate the terms of that extension. Your attorney and agent can discuss requiring a specific new settlement date and whether additional consideration or other protections should be included. North Carolina's amendment form can also shorten the normal delay following an amended settlement date from seven days to four days. If you're already two weeks beyond the contractual settlement date, this is the point where your closing attorney should tell you whether you can terminate, claim the earnest money and due diligence fee, or negotiate one final extension with meaningful protections. Under the standard Form 2-T, those deposits are generally the seller's contractual remedy for a buyer's material breach rather than reimbursement for additional mortgage payments. Brenda Ashby | REALTOR® JohnHart Real Estate | DRE License # 01700249

Solveig, a gift of equity can be confusing because it is not $100,000 of cash being handed to the buyer. It is equity the seller is giving up, and it normally must be reflected on the settlement/Closing Disclosure. Fannie Mae specifically describes a gift of equity as a portion of the seller’s equity transferred to the buyer as a credit in the transaction. Using your numbers, there are two very different scenarios: If the sales price is $515,000 and your parents are giving you a $100,000 gift of equity, the statement could show $515,000 due to the sellers, less the $100,000 gift of equity. That leaves approximately $415,000 before their normal seller expenses, mortgage payoff, taxes, commissions, title charges, etc. But if the actual contract sales price is already $415,000 and the settlement statement then deducts another $100,000 gift of equity, your parents would be starting with only about $315,000 before their other expenses. In that situation, the $100,000 may effectively be getting counted twice relative to what your family intended. The fact that the home appraised for $515,000 does not automatically mean your parents receive $515,000. The purchase contract and financing documents control how the transaction is structured. I would ask the lender and title/settlement company a very specific question: “Is our transaction structured as a $515,000 purchase with a $100,000 gift of equity, or as a $415,000 purchase with an additional $100,000 seller credit?” Those produce very different results. The CFPB recommends reviewing the Closing Disclosure carefully and questioning anything that differs from what you expected before closing. So, based on the numbers you provided, I would not assume the $315,000 seller proceeds are correct. Have the lender and settlement agent explain the calculation line by line. If the intention was for your parents to receive roughly $415,000 before ordinary selling expenses, the paperwork needs to reflect that intended structure.

Tansy, selling “as is” usually means you are not agreeing upfront to make repairs. Buyers can still inspect the home and ask for repairs or credits, but you can generally say no depending on the contract. It also does not eliminate your responsibility to disclose known problems. If a seller knowingly hides or misrepresents a defect, a buyer may still have a claim after closing. So, “as is” means selling in its current condition, not that buyers give up all rights. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Tammy, if you don't want your home used as collateral, one option would be an unsecured personal loan through a bank, credit union, or lender. But before borrowing, I would investigate assistance programs because of your husband's veteran status and the hurricane-related damage. Since you are in Florida and need windows, doors, and garage doors, look into the My Safe Florida Home Program. Eligible homeowners may receive assistance for hurricane mitigation improvements, including impact-resistant windows and doors. The program currently offers qualifying homeowners matching grants of up to $10,000, and certain low-income homeowners may qualify for up to $10,000 without a matching contribution. Eligibility requirements apply, including an inspection and, for current grant approvals, proof of homeowners insurance. I would also check out the FHA Title 1 Property Improvement Loan as an option. Loans under $7,500 are generally unsecured (no property lien required) Because your husband is a 100% permanent and total disabled veteran, I would also contact the VA before taking out a loan. The VA has HISA, SAH, and SHA programs that can help qualifying veterans make certain disability-related modifications to their homes. HISA can provide up to $6,800 for medically necessary improvements in qualifying situations. These programs generally will not pay for ordinary maintenance or remodeling unless the work is connected to accessibility or a medical need. The bathroom could be something to consider for these programs. As mentioned earlier by Zoltan, Florida Statute 196.081 provides a complete, 100% exemption from property taxes on property owned and used as a homestead. Veterans who are permanently and totally disabled and honorably discharged, with a service-connected disability rating verified by the VA, qualify if your husband is not already receiving this exemption. Surviving spouses of veterans can carry over the total tax exemption as long as they hold title to the property, maintain it as their permanent residence, and do not remarry. I would start with the grant programs first and the FHA Title 1 property improvement loan first, then determine how much remaining funding is needed. If financing is still necessary, compare unsecured personal loans from several credit unions and banks, and look carefully at the APR, monthly payment, fees, and repayment term before committing. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Marguerite, as-is doesn't necessarily mean you agreed to accept every problem discovered during inspections, but it also does not automatically create a special exception for structural defects. A $125,000 foundation issue on a $3.3 million purchase is significant enough that I would not treat this as a routine inspection negotiation. Your rights depend on the exact language of your purchase agreement and, most importantly, whether your inspection/investigation contingency is still in place. Under the standard California Association of REALTORS® contract, a buyer with an active investigation contingency may generally cancel if they are acting in good faith and are dissatisfied with the property's condition. The seller is also not required to give you a credit simply because a major problem was discovered. Before walking away, I would ask for three things: a clear written scope from the structural engineer, at least one qualified contractor's estimate confirming the probable cost, and an immediate review of your contract to determine which contingencies, if any, are still protecting you. Also, remember that $125,000 is an estimate. Once finished basement walls are opened, the final number could be higher. The real question is simply: is $125,000 enough to walk away? Would you still buy this property at $3.3 million knowing you may personally be responsible for the entire structural repair and any additional problems uncovered once the walls are opened? Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Callum, I wouldn't wait until spring to start evaluating your property's value. In fact, with so few comparable sales in your valley, starting now is probably the smartest things you can do. Rual properties require a different pricing strategy than homes in established neighborhoods. When recent comparable sales are limited, an experienced rural real estate agent or land appraiser can expand the search to surrounding valleys or similar rural markets, examine older sales, and make adjustments for changing market conditions. What's particularly important is evaluating the property's unique characteristics, including acreage, road access, water rights, utilities, improvements, agricultural potential, and development restrictions. One thing I'd clarify is your reference to the Agricultural Land Reserve (ALR). That's a designation primarily associated with British Columbia, Canda. In Montana, agricultural classifications, conservation easements, and local land-use restrictions operate differently. Understanding exactly what restrictions apply to your property is essential because they can significantly affect its market value. Here's what I'd recommend: Interview two or three agents who specialize in rural acreage, farms, or ranch properties now rather than waiting until you're ready to list. Ask how they would determine value without recent local sales. You might also consider hiring a certified general appraiser experienced in rural land. Remember, comparable properties don't necessarily have to be in the same valley, but they should have similar characteristics, permitted uses, and buyer appeal. My advice? Start the valuation process now, establish a preliminary pricing range, and revisit it closer to your spring listing date. That gives you time to address potential issues and enter the market with a well-supported pricing strategy. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Callum, I wouldn't wait until spring to start evaluating your property's value. In fact, with so few comparable sales in your valley, starting now is probably the smartest things you can do. Rual properties require a different pricing strategy than homes in established neighborhoods. When recent comparable sales are limited, an experienced rural real estate agent or land appraiser can expand the search to surrounding valleys or similar rural markets, examine older sales, and make adjustments for changing market conditions. What's particularly important is evaluating the property's unique characteristics, including acreage, road access, water rights, utilities, improvements, agricultural potential, and development restrictions. One thing I'd clarify is your reference to the Agricultural Land Reserve (ALR). That's a designation primarily associated with British Columbia, Canda. In Montana, agricultural classifications, conservation easements, and local land-use restrictions operate differently. Understanding exactly what restrictions apply to your property is essential because they can significantly affect its market value. Here's what I'd recommend: Interview two or three agents who specialize in rural acreage, farms, or ranch properties now rather than waiting until you're ready to list. Ask how they would determine value without recent local sales. You might also consider hiring a certified general appraiser experienced in rural land. Remember, comparable properties don't necessarily have to be in the same valley, but they should have similar characteristics, permitted uses, and buyer appeal. My advice? Start the valuation process now, establish a preliminary pricing range, and revisit it closer to your spring listing date. That gives you time to address potential issues and enter the market with a well-supported pricing strategy. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Theodore, a conservation easement may be an option, but the lot being small does not automatically disqualify it. Virginia law does not establish a minimum acreage for a conservation easement. The bigger question is whether the property has conservation value, such as wildlife habitat, mature trees, water protection, scenic value, or public benefits, and whether a qualified organization is willing to hold and monitor the easement. The Virginia Outdoors Foundation can evaluate properties based largely on their conservation values and public benefit. The strongest alternative would be transferring the parcel or an easement over it to a conservation organization or public body willing to protect it permanently. Virginia's Open Space Land Act specifically allows public bodies to acquire perpetual interests in property for open space preservation. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

David, when you have multiple offers above the asking price, the highest price is not always the best offer. I would compare each offer based on price, financing strength, contingencies, appraisal risk, closing timeline, earnest money, and the buyer’s ability to perform. Your agent may recommend giving all or selected buyers an opportunity to submit their “highest and best” terms by a specific deadline. This can improve both price and terms without repeatedly going back and forth. You can also counter one offer or negotiate different terms, depending on what is permitted in your market. Pay particular attention to offers that are significantly above recent comparable sales. If the buyer is financing the purchase, the home still has to support the price through the appraisal unless the buyer agrees to cover an appraisal shortfall. A slightly lower offer with strong financing, fewer contingencies, substantial earnest money, or an appraisal-gap provision can sometimes be safer than the highest offer. Cash offers can be attractive because they eliminate financing and appraisal-related loan risks, but they should still be reviewed carefully for proof of funds, inspection terms, and the buyer’s proposed closing date. The goal is not simply to create the biggest bidding war. It is to identify the offer with the strongest combination of price, certainty, and favorable terms. Have your agent prepare a side-by-side comparison so you can see which buyer is most likely to close successfully while still maximizing your net proceeds. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Desmond, a 3,000-square-foot home compared with 5,000-square-foot homes with significantly more bedrooms and bathrooms, is a pretty substantial difference. The appraiser may still use those larger recent sales if they are among the best available, but they would typically need to make market-supported adjustments for the differences, which reflect real-world market trends or physical differences between properties. That usually means market conditions, property characteristics, and financing or sales concessions. They can also go farther back in time to find homes that are more similar to yours. There isn’t a blanket rule that comps must be within six months. Current guidance says comparable sales that closed within the previous 12 months should generally be used, while recognizing that the best comparable may not always be the most recent one. So you could see an appraisal that uses a combination—for example, an older 3,000-square-foot sale because it closely matches the subject, along with newer larger sales to demonstrate what the current market is doing. If an older sale is used, the appraiser can make a market-condition or time adjustment when the data supports it. The key is similarity plus recency, not square footage or sale date by itself. In your situation, I would expect the appraiser to search for homes closer in size before relying heavily on 5,000-square-foot properties. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Yes, Wyatt, that can absolutely happen, especially when you're self-employed. Two lenders can review the same tax returns and financial documents but calculate qualifying income differently based on their underwriting guidelines, how they treat business expenses, depreciation, one-time losses, declining income, or other adjustments. Ask each lender to explain exactly how they calculated your qualifying monthly income and what guidelines they used. Comparing the two numbers side-by-side can tell you more than any conversation. With self-employed borrowers, those details can make a significant difference in how much you qualify to borrow. The lender asking for more documents may be trying to determine whether certain expenses can be added back or whether your income can be supported with additional business records. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Ashley, the wind mitigation inspection is the one most directly tied to insurance discounts in Florida. Insurance companies use the 4-point inspection to decide whether they'll insure you. It mainly evaluates the condition of an older home's roof, electrical, plumbing, and HVAC systems. For a 1988 home, the wind mitigation inspection can document features that qualify for credits, including the roof covering, roof-to-deck attachment, roof-to-wall connections such as hurricane clips or straps, roof shape, secondary water resistance, and protection fr windows, doors, and other openings. I would get the wind mitigation report first and have your broker price the policy using the existing credits. Then ask which missing feature would actually produce enough additional savings to justify upgrading it. For the 4-point inspection, it makes sense to correct obvious electrical, plumbing, HVAC, or roof deficiencies beforehand because those issues can affect insurability. At $6,900 a year, I would get both inspections, give the report to your broker, and have them shop several carriers. The goal isn't simply passing the inspections; it's finding out which documented improvements produce the biggest actual premium reduction before spending money on upgrades. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Priscila, with a deadline of the 11th, I would not sign the deed-in-lieu paperwork simply because the house hasn't received much activity yet. First, find out exactly what that deadline means and whether the lender will give you additional time to pursue a sale. A traditional sale is worth pursuing if the home has enough equity to pay off the mortgage, selling expenses, and other liens because you may be able to walk away with money. If you owe more than the property can realistically sell for, ask the lender whether a short sale is available before surrendering the property. A deed in lieu can make sense when there is little or no equity, a sale is unlikely, and you are prepared to leave the property. It allows you to voluntarily transfer ownership to the lender rather than complete the foreclosure process. However, the CFPB recommends making sure the agreement satisfies the entire mortgage balance and, where applicable, obtaining any deficiency waiver in writing. Contact your mortgage servicer immediately and ask: What happens after the 11th? Is there an actual trustee sale date? Will they postpone foreclosure if you received an offer? Can you pursue a short sale? And does the deed-in-lieu agreement completely release you from the remaining debt? Arizona commonly uses trustee-sales foreclosures, and state law provides specific notice and timing requirements, so knowing exactly where you are in that process matters. I would also speak with a HUD-approved foreclosure counselor or an Arizona real estate/foreclosure attorney before signing away title. Getting professional help is highly recommended when foreclosure is imminent. Don't let the lack of two showings versus twenty determine this decision. Compare your equity, realistic selling price, time remaining before foreclosure, and the exact financial release the lender is offering. A deed in lieu can be the right exit strategy, but once you sign over the property, you've given up the opportunity to capture any equity you might still have. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Emmett, yes, the seller can withdraw the promised credits if the agreement was only verbal. In Georgia, an agreement affecting the terms of the purchase needs to be in writing. A verbal promise that the seller will provide maintenance or repair credits can be difficult to enforce if it was never incorporated into the contract or a signed amendment. This doesn't necessarily mean you don't have leverage. Go back to your purchase agreement and look at your due diligence provisions. If you are still within the due diligence period, you may have the right to terminate, renegotiate the purchase price, request a formal credit, or require another resolution depending on the language of your contract. The problem uncovered during due diligence is important because they materially change the economics of the property, and you can tell the seller: These conditions were not reflected in the price we agreed to, so either we renegotiate, or I exercise whatever rights remain under the contract. Also preserve every email, text message, inspection report, proposal, and communication involving the promised credit. Even if you believe the agreement was entirely verbal, there could be written communications that help establish what was discussed. The biggest issue is timing. Do not let a due diligence or termination deadline expire while negotiating the credit. Once your contractual protections expire, your bargaining position can change dramatically. Because this is a commercial transaction and the amount at stake could be significant, I would have a Georgia commercial real estate attorney review the contract before waiving contingencies or proceeding to closing. Remember, if it's not in writing, it usually can't be enforced. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Silas, the jump from $155,000 to $305,000 in just a few months would definitely make me dig deeper before paying anywhere near the asking price. At $155,000, the previous buyer paid about $8,600 per acre. At $305,000, they're asking almost $16,950 per acre. An offer of $200,000 would be about $11,100 per acre. Subdividing land can absolutely increase its value because three buildable lots may be worth more individually than an 18-acre parcel. But simply dividing the property and cutting dirt driveways doesn't automatically justify nearly doubling the price. The real question is what value was actually created. I would verify that all three lots are legally recorded and independently buildable, have legal road access, qualify for septic systems, have reasonable utility access, and meet local zoning and setback requirements. Indiana requires subdivision plats to go through applicable recording and approval procedures. You also need recent comparable land sales in that specific area, because statewide averages only provide context. Purdue s 2026 survey, for example, puts Indiana recreational land around $9,043 per acre and average quality farmland around $12,121 per acre, although individual residential building sites can sell for more. I think there is absolutely a reason to investigate an offer of $200,00 or less. The seller may reject it, especially if they believe they can sell the three lots separately, but the seller's asking price does not establish market value. Before making the offer, find out what comparable 5-, 6-, and 10-acre parcels have actually sold for, not just what sellers are asking. That will tell you whether $305,000 reflects genuine added value, or simply an aggressive attempt to flip the property for a large profit. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Marcus, your insight is right. Don't represent that you're putting 50% down if you actually intend to finance the purchase with only 10% down. Your lender will verify your income, assets, bank statements, source of funds, and the amount you have available for the down payment and closing costs. The lender will also review the purchase contract. The bigger issue is that the seller may have accepted your offer partly because a 50% down payment appeared to make the transaction financially stronger. Changing that to 10% after acceptance could be considered a material change to the financing terms and could create problems under the contract. Buyers sometimes change financing structure legitimately during escrow, but intentionally overstating a down payment just to make an offer more attractive is very different.' If you want to strengthen your offer, talk with your lender and real estate agent about legitimate options, such as a strong preapproval, proof of funds, a larger earnest-money deposit, or other contract terms that reduce the seller's risk. Don't promise %0% down unless you are genuinely prepared and able to do it. And you may want to stop taking advice from your neighbor. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Beatrix, simply asking your mortgage servicer about forbearance is not the same as missing a payment and should not, by itself, create a derogatory late-payment mark on your credit. If you are approved and actually enter forbearance, your servicer may report that the mortgage is in a forbearance plan. Freddie Mac requires servicers to continue reporting mortgage status to the credit bureaus and notes that the existence of a forbearance plan could be viewed as increased credit risk. Because you are currently making your payments, I would not stop paying until the servicer confirms in writing that your forbearance has been approved and gives you the effective date. CFPB guidance recommends contacting your servicer as soon as a financial hardship such as a job loss occurs. Before agreeing, ask your servicer how your account will be reported to Equifax, Experian, and TransUnion while I'm in forbearance, if I'm current when the plan begins. Also, ask how the missed payments will be handled when forbearance ends. Forbearance postpones payments; it does not forgive them. If preserving savings is important after a layoff, forbearance may still be worth considering, but I would understand the servicer's exact credit-reporting and repayment terms before choosing it. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Foster, yes, you can still list the house, but I would be careful about advertising it as a legal 4-bedroom until you verify the conversion. Washington's seller disclosure form specifically asks whether there have been conversions or remodeling and whether the required permits and final inspections were obtained, so this is something you should disclose accurately. Before listing, check whether the property is under the City of Spokane or Spokane County and contact the appropriate building department about an after-the-fact permit or inspection. The City of Spokane treats interior remodeling as work subject to residential building review, and permitted work generally requires inspections and final approval. Until you know whether that room can be legalized as a bedroom, the safer approach may be to market and price the home based on its officially recognized bedroom count, for example: 3 bedrooms plus bonus/flex room. An appraiser or lender could also question the additional bedroom if the conversion does not meet current safety, egress, or permitting requirements. I would resolve the permit questions before going on the market rather than letting it become a surprise during the buyer's inspection or appraisal. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Junia, yes, it's normal for a seller to use the full amount of time allowed under the contract before responding to a repair request. They may be getting estimates, discussing the repairs, or deciding what they are willing to negotiate. The important question is how your specific contract defines your deadline after the seller responds. In some contracts, the buyer gets a certain number of days after receiving the seller's response. In others, there may be a fixed deadline that does not automatically move just because the seller waited until the last day. Because Illinois purchase contracts and attorney-review provisions can be deadline-sensitive, ask your agent and real estate attorney to confirm exactly when your response period expires. If the seller's late response would leave you with very little time, your attorney should request an extension before the deadline passes. The Illinois State Bar Association specifically recommends having an attorney monitor inspection and contract deadlines during the transaction. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Elena, no, you are being unreasonable. A low appraisal means the lender may only finance the home based on the appraised value, so you're not obligated to automatically cover the difference unless your contract requires it. Meeting halfway is a negotiation, not a rule. If you're already at your financial limit, it's reasonable to hold your position and ask the seller to reduce the price. Just make sure your agent reviews your appraisal contingency and contract deadlines with you before making a final decision. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Ondine, I would push back and ask the servicer for a written explanation of the payment application policy. Federal mortgage servicing rules generally require regular monthly payments to be credited as of the date received, although extra principal payments can be handled according to your loan terms and the servicer's stated procedures. If your extra payment is clearly designated as principal only and their processing methods are repeatedly causing you to pay additional interest, ask them to explain why and confirm that it complies with your mortgage agreement. The CFPB specifically recommends verifying that extra payments are being applied to principal. I would document several months of payments and interest charges and challenge it in writing if the numbers show you're actually being charged more. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Mereedith, I'm sorry this happened. You should start documenting everything: emails, texts, promised timelines, closing extensions, and especially the $ 150-per-day charges. Before assuming the Realtor is legally responsible, have an independent NY real estate attorney review exactly who was responsible for the lender communication and municipal search. If the delays resulted from negligence by your agent, broker, attorney, or another party, you may have a claim for documented financial damages, but you'll need to establish that their actions actually caused those losses. I would also contact the Realtor's managing broker immediately and ask that the matter be reviewed, including whether an errors-and-omissions insurance claim is appropriate. You can also file a complaint with the New York Department of State regarding a real estate licensee, and attorney-conduct complaints go through New York's Attorney Grievance Committees. Those complaints can address misconduct, but they generally aren't a substitute for pursuing financial damages. With your costs increasing every day, I wouldn't wait; get an independent attorney involved now. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Trudy, yes, a top-tier school district can help support resale value even if you don't have children, because strong schools often attract a large pool of future buyers. But I wouldn't automatically pay a substantial premium just for the school ranking. Looking at the picture: purchase price, property taxes, neighborhood desirability, commute, housing supply, and how much more comparable homes sell for inside versus outside the district. A desirable school district may provide some added resilience in a downturn, but it doesn't guarantee your home won't lose value. If the premium is significant and you won't personally benefit from the schools, I'd focus on whether the home and neighborhood offer enough other advantages to justify the additional cost. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Pedro, since you're interviewing three agents, I would go beyond asking what they will do to market your home. Ask questions that force them to explain how they make decisions when the market doesn't go exactly as planned. Pricing: Walk me through your numbers. Don't just ask, what do you think my home is worth? Ask each agent to show you exactly how they arrived at their recommended list price. Which comparable sales are they using? Why are those properties comparable to yours? What adjustment are they making for condition, location, lot size, upgrades, views, square footage, or other unique features? Be cautious if an agent recommends a significantly higher price than everyone else but cannot support it with data. Days on Market: “What happens if my home doesn’t sell quickly?” Ask how they evaluate days on market and what benchmarks they will use. For example: What should we expect during the first 7, 14, and 21 days? How many showings should we reasonably be seeing? How will you determine whether the problem is price, presentation, marketing, property condition, or simply the market? A good agent shouldn't wait until your home has been sitting for 60 days to start discussing strategy. Price Reductions: “When would you recommend lowering the price, and why?” This is an important question because you want to know the agent's philosophy before you're emotionally invested in the listing price. Ask what specific data would trigger a price adjustment. Is it a lack of showings? Plenty of showings but no offers? New competing listings? Recent comparable sales? Buyer feedback? I would also ask, “If you recommend a reduction, how will you determine the amount?” There is a big difference between strategically repositioning a property and repeatedly making small reductions while chasing the market downward. Negotiation: “Tell me about a transaction in the last year that almost fell apart.” This may be one of the most revealing questions you can ask. Don't just ask an agent whether they're a good negotiator; almost everyone will say yes. Ask them to describe a real transaction that became difficult. What went wrong? Was it inspection, appraisal, financing, a repair request, a buyer demanding credits, or something else? What did the agent recommend to the seller? What did they negotiate? And ultimately, how did they keep the transaction together? You're listening for judgment, communication, creativity, and problem-solving, not just whether the deal eventually closed. Finally, ask each agent: “If this were your home, what would you do?” The best listing presentation shouldn't feel like someone delivering a rehearsed sales pitch. By the end of the meeting, you should understand the agent's pricing strategy, marketing plan, communication process, negotiation style, and what they will do when the market pushes back. That's how you distinguish someone offering a standard listing service from an agent who will actively manage the sale of your home. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Morisol, it may feel like a red flag, but California sellers generally aren't legally required to give you the TDS before you write an offer. They can provide disclosures after you're in escrow, although you normally have a cancellation period after receiving them. That said, known material facts still have to be disclosed, and the agents have their own disclosure obligations. If the cigarette smoke odor was significant enough to affect your interest in the property, I think you were completely reasonable to ask questions before committing and equally reasonable to walk away if you weren't comfortable with the response. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Hi Pattie, here are three trends you should watch closely: inventory, pricing, and buying leverage. Inventory has increased, giving buyers more choices and creating a more balanced market. Prices have been relatively stable in some areas, which means sellers need to be realistic about pricing and condition. Pay close attention to mortgage rates, property taxes, insurance costs, and new construction incentives because all four can significantly affect affordability and competition in the Houston market. The biggest takeaway is that Houston's market is becoming a market where buyers can be more selective, and sellers have to compete more aggressively for attention. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Renata, an unused $250K HELOC does not necessarily mean you have $250,000 of debt. If the balance is truly $0 and there is no required monthly payment, standard conventional underwriting may not treat it as a monthly debt for your debt-to-income ratio. Fannie Mae's current guidance says that when a HELOC does not require a payment, the lender does not need to create an equivalent monthly payment. However, your lender may have its own underwriting rules, often called lender overlays, especially because you're financing an investment property. They may view a large open HELOC as additional credit you could access after closing, which could affect their overall risk assessment or maximum borrowing capacity. I would ask them specifically if they are counting a monthly payment against my DTI, and if so, what payment and what guideline are they using. Your $100,000 in cash can also matter because investment property loans typically have reserve and down payment requirements in addition to DTI considerations. Ask about taking a smaller mortgage; a smaller loan doesn't automatically mean a lower interest rate. Investment properties already carry additional pricing adjustments compared with primary residences. Putting more money down may improve your loan-to-value ratio and improve pricing; simply borrowing $175,000 instead of $200,000 doesn't guarantee a better rate. Before changing or closing the HELOC, ask the lender to show you the qualification with it open, with the line reduced, and with it closed. That will tell you whether the HELOC is actually the issue or whether something else in the investment property underwriting is limiting the loan. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Cody, usually the answer to that question is no. If both names are on the mortgage, your ex generally remains legally responsible until the lender formally releases him. Call the servicers and ask if the loan is assumable or if a release of liability is possible. The lender has to approve it and may require you to qualify for the loan on your own. Otherwise, the usual options are refinancing, selling the property, or paying off the mortgage. I'd start by asking your lender or loan servicer whether your specific loan allows a borrower release without refinancing. You can use a quitclaim deed to remove him from the property title, but he would still be liable for the mortgage in the event you stop making payments. In that case, the lender would still pursue him for the debt, and late payments would still damage his credit. The mortgage will continue to show on his credit report, in case he is trying to buy another property. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Possibly. Most purchase agreements require the seller to remove personal property and leave the home in the agreed-upon condition before closing. If the shower door and drawers were not included in the sale, the buyer could ask that they be removed or potentially charge you for disposal. Since your Realtor contacted you before closing, I would try to have someone remove them as soon as possible. Also, review your purchase agreement, because the exact responsibility will depend on what you agreed to in writing. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Soraya, I wouldn't automatically spend the $5,340. If the repairs are mostly cosmetic, selling as-is with a buyer concession may make more sense, especially if the condo is otherwise priced correctly. The question is where those repairs are likely to increase the sale price by more than they cost or help the property sell significantly faster. Fresh paint, repaired carpet, and functioning cabinet doors can improve first impressions, but you may not recover every dollar. I'd ask your Realtor to show you comparable sales supporting the recommendation. If updated condos are selling noticeably higher or faster, the repairs may be worthwhile. If not, pricing the condo accordingly and offering a credit could be a better strategy. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Sergey, focus on the significant inspection findings, not every minor defect. Even with an "as-is" sale, you can usually still ask the seller to address newly discovered issues, depending on your contract. For the HVAC and roof leaks, get written estimates and make a reasonable request, either specific repairs by licensed professionals or a credit toward your closing costs. Present the request as a solution rather than an ultimatum. The goal is to protect yourself while keeping the deal together. Your agent should also review your inspection contingency and deadlines carefully before you respond. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Odessa, a cash offer can be the smarter choice if convenience and certainty matter more to you than getting the absolute highest price. Cash sale pros: faster closing, fewer showings, fewer repair negotiations, less risk from financing or appraisal issues, and a simpler process. Cash sale cons: you’ll usually accept less than market value and may leave significant money on the table. Traditional sale pros: more buyer exposure, a better chance of receiving multiple offers, and potentially a higher net profit. Traditional sale cons: more showings, possible repair requests, longer timelines, and more negotiation. The key is to compare your net proceeds, not just the offer price. If the cash offer is only slightly below what you’d realistically net from a traditional sale, the convenience may be worth it. If the difference is substantial, listing traditionally may make more financial sense. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Mary, the first thing I would do is verify exactly who owns the property and what percentage each person owns. Someone simply saying they own half is not enough; the recorded deed and title records will show the actual ownership. If five people own the property and four are selling their shares, any unpaid property taxes or tax liens need to be addressed as part of the sale. In many cases, the title or escrow company will determine the amount owed and arrange for those to be paid from the sale proceeds before the sellers receive their money. Before anyone signs anything or agrees to a buyout, I would recommend having a title company review the ownership and liens and, if there is a disagreement about ownership, speak with a real estate attorney. That way, you know exactly who owns what and what must be paid to transfer the property. Taxes cannot be split, and delinquent tax liens are not against all five individuals, but against the property. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Priya, yes—renting the condo to your son substantially below market rent can change the tax treatment. Under Section 280A, the IRS considers a day to be personal use when a property is rented to a family member for less than fair-market rent. There is an exception when the family member uses the property as their main home and pays fair-market rent. If comparable condos rent for $3,500 per month but you charge your son $1,500 simply to cover the property taxes, HOA, and insurance, the IRS does not automatically treat the condo as a normal investment rental just because money is changing hands. Fair-market rent is based on what an unrelated tenant would reasonably pay for a comparable property, not your monthly ownership costs. This matters because you may not be able to deduct HOA fees, insurance, depreciation, and other expenses the same way you could with a normal Schedule E rental. The rent you receive can still be taxable income, while deductions can be restricted. If the arrangement is considered a not-for-profit rental, the IRS says the rental income must still be reported, but ordinary rental expenses generally aren't deductible; certain items such as qualifying real estate taxes or mortgage interest may still be deductible under the separate rules that apply to personal property. Before buying the condo, I would have a CPA run the numbers two ways: renting to your son at documented fair-market rent versus intentionally providing him below-market housing. That way, you know the tax consequences before deciding what rent to charge. The key takeaway: covering your expenses is not the IRS test; fair-market rent is. Brenda Ashby | REALTOR® | JohnHart Real Estate | DRE License # 01700249

Jocelyn, you're not stuck. A low appraisal usually means the lender will base the loan amount on the appraised value rather than the higher purchase price. Your options include asking the lender for a reconsideration of value if there are better comparable sales or errors in the appraisal, renegotiating the purchase price with the seller, or bringing additional cash to cover some or all of the appraisal gap. If your offer included an appraisal contingency, you may also have the option to cancel without losing your deposit if you and the seller can't reach an agreement. The first thing I'd do is have your agent and lender review the appraisal carefully. A low appraisal is a problem to solve, not necessarily the end of the deal.