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Low claims ratios are a testament to the work our agents do to eliminate items prior to closing. The borrower also may have encumbered the property with loans that were not disclosed when applying for refinancing.
Real estate agents and loan officers play an important role in ensuring appraisers have the necessary data to deliver reliable valuations. I had the opportunity to discuss some common questions people have about the appraisal process with Massachusetts real estate agent Kevin Vitali.
Whether you’re working with a real estate agent or listing on the multiple listing service (MLS), having a clear, step-by-step plan ensures your investment property stands out in the local real estate market and attracts serious potential buyers.
Understanding Due Diligence and Earnest Money in North Carolina Real Estate When you go under contract on a home in North Carolina you are going to encounter terms like Due Diligence and Earnest Money. It's important to note that real estate contracts and laws change depending on what state you are in. Due Diligence: What Is it?
It’s important to note that any undisclosed additions can cause a breach of conditions in your sale contract. Any easements or encroachments – any part of the property should be accounted for to get the most accurate estimate of the land value.
And if you are buying with cash, you'll want proof of income to show the seller's agent. Finding the Right Piece of Land A real estate agent can be an excellent resource for where to look, and if you find the right one they'll both help you throughout the process and protect your interests. How much money do you need down to buy land?
Here are some tips on how to communicate effectively with a real estate appraiser when obtaining an appraisal: Be clear about your intent: Whether you are the homeowner, buyer, seller, or agent, you should inform the appraiser of the purpose of the appraisal and the type of report you need.
In 2007, he started appraising conservation easements, which are specified areas of land earmarked for environmental conservation. Owners with conservation easements can claim an income tax deduction. Conservation easement appraisals are a definite risk for appraisers. They are not easy to do. We all know this is true.
When you climb to the top of the tower, the owner has a telescope where you can see forever valley views,” Speakman (agent) adds. On a side note, I’m definitely noticing some familiar agents listing bank-owned homes right now (mostly people who were big REO agents back in the day). Inside, there are pillars and towers.”
Hiring a real estate lawyer to review all contracts first is best. Another loan option for buying land is a land contract. With a land contract, the seller provides the land buyer with the loan, instead of an institution. Possible Title Issues (Easements, Foreclosure). Zoning Requirements. Title Deed.
Integrity Remain steadfast in your commitments, stay true to your word, and uphold your principles, even if this requires declining an appraisal assignment or future work with a client or their agent. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.00
In this posting, we will follow the acts of contract negotiation and legal settlement when undeveloped land changes ownership. If the owners are trying to sell by means of their own resources -- a sign or classified advertisement, say -- it is still wise to keep a buyer's agent on hand.
Every room on the main level except for the kitchen and the turret have a fireplace, and those are all made out of a different precious wood,” Rich (agent) explains. There may be unrecorded easements or other issues that the appraiser would not and could not discover during the course of the inspection. It’s listed for $899,000.
It’s worth noting that while FSBO sales can result in savings, they often sell for less than agent-assisted sales. Residential Sales Contract The Residential Sales Contract is the binding agreement that outlines the terms and conditions of your home sale, serving as the legal foundation for the transaction.
The Houston Properties Team is the #1 boutique real estate team and #6 worldwide out of over 182,000 Keller Williams agents. If you choose to list with our team, we can provide you with an unparalleled level of efficiency and customer service that can’t be compared to working with just one individual agent.
They can keep buyers up at night after going under contract on a home. The seller accepts your offer and you are officially under contract and the home will be marked contingent. If that happens, your real estate agent will have to negotiate with the seller to see if they will bring their sale price down to $350,000.
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