What Happens When an Appraisal Comes in Low?

July 20th, 2016

brian-martucci-when-appraisal-is-low-mortgage-getloansWhen a homebuyer is getting a mortgage to buy a new home everyone seems to be on pins and needles waiting on the appraisal. When the appraisal does come in if the appraised value is below the contract price the response is usually alarm from the realtors and confusion by the homebuyer. At that point there is a lot to talk about and coordinate. Read the rest of this entry »

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Waiving Appraisal Contingencies

January 26th, 2015

I sometimes get asked about waiving one or all contingencies in a real estate contract, to help make for a more aggressive offer in a competitive sellers’ market. The main contingencies in most real estate contracts are the appraisal contingency, the financing contingency, the termite inspection contingency, and the home inspection contingency. I am not a proponent or an opponent of any of these strategies, but simply want to discuss the pros and cons of each, since it is a question I do get. Let me take these one at a time. Read the rest of this entry »

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