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A well-maintained property can contribute to a more favorable valuation and prevent the need for a finalinspection, which can cost the buyer more money and possibly delay the closing. The Power of Pre-Appraisal Preparation: Agents preparing properties for appraisals can have a significant impact on the outcome.
” “That cost does not equal value on homes, and picking comparable sales just to hit contract prices is unethical. ” Appraisers are unbiased and must follow guidelines “I wish they understood that we cannot always ethically hit the sale contract price.” .” “How value is derived.”
My advice: Always check what plan and updates were actually built when doing finalinspection. I always asked to see the final sales document data. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.29 percent from 6.43 percent from 6.73
After an offer is accepted when buying a home , the sale will enter the under-contract phase leading up to the final real estate closing day. Here, we’ll quickly walk through the different steps from the beginning of the under-contract period through the final real estate closing day. What is a Real Estate Closing?
Contingencies : Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc. Home inspection : A nondestructive visual look at the systems in a building. Inspection occurs when the home is under contract or in escrow.
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