Better Homes and Gardens Real Estate Life

Category: Buying and Selling

  • Seven Ways to Simplify the Process of Buying a House

    Whether it’s your first house or what you hope will be your last, buying a house is often a very stressful process. Until the moment you take possession of your home, there’s always a chance something could go wrong. Here are seven ways to simplify the process of buying a house.

    1. Get your paperwork in order

    Start getting your paperwork in order before you even start looking at properties online. If you’re applying for a loan, you’ll need your last two years’ worth of tax returns, current pay stubs, bank statements for the last three months, cancelled rent checks, or copies of your lease. You may also need your divorce decree and bankruptcy paperwork if either of those situations apply. Remember that getting money out of a 401k or a trust for your down payment or outright purchase can take longer than you anticipate, so find out how long it’s going to take and what’s involved if that’s a route you’re considering.

    2. Find a real estate agent you can trust

    Before you start the mortgage or loan application process, finding out what’s going on in the market is vital. Interview at least three real estate agents, and listen to what they say about what you’re likely to get for the house you’re selling. In addition, speak with them about what you’ll likely pay for your new one.

    Once you’ve heard the same price ranges three times (assuming all the agents you meet with agree, which they should), choose the agent with the best track record of sales in your area, the best online or personal recommendations, and the one you like best. Staging, keeping a home show-ready, and listening to tactfully delivered feedback from people who’ve viewed your home means you’re going to be interacting with your agent a lot.

    3. Start researching banks, credit unions, and loan officers

    While it might seem simpler to use a bank or credit union that offers home buyers one-stop shopping, what the term really means is the bank has a vested interest in the sale through controlled business arrangements with realtors, attorneys, and possibly even home inspectors, and may receive a portion of the commissions. That’s no way to guarantee objectivity. To check a loan officer’s record, ask for their ID number and take a look at NMLS Consumer Access. If you’re using a mortgage broker, check their credentials with the Better Business Bureau.

    4. Get your financing in order

    Once you’ve chosen your loan officer, bank, credit union, or mortgage broker, get pre-approved for a loan or mortgage and get a pre-approval letter. This will not only help you figure out what you can afford before you start looking, it tells realtors and sellers you’re serious. Depending on how long your search takes, you may need to renew your pre-approval—they’re usually only valid for 60 to 90 days.

    5. Find a home inspector you can trust

    If you’re looking at older homes, a good home inspector will be able to warn you of areas where there are problems with termites, water seepage, or shoddy construction. Do your due diligence. One of the best ways to find a good home inspector is to talk to a tradesperson you’ve used in the past, one who takes pride in their work and wants everyone in the industry to do the same. Try to find a home inspector who’ll let you accompany them when they make their inspection so you can ask questions on the spot.

    6. Consider investing in title insurance

    While it may seem like an unnecessary expense, making sure there are no liens against the property you’re buying is important. The last thing anyone needs is to find out the home they just bought is owned by someone other than its previous occupant. It costs between $1,000 and $3,000 on average, or .05 percent of the purchase price. You can sometimes get a reissued title insurance policy if the seller went through this process. That can save you some money. Get your real estate agent to ask the seller’s realtor about this. Additionally, some banks may require you obtain title insurance if you’re getting a mortgage, so be sure to inquire with your lending officer.

    7. Get your tradespeople lined up

    If you’re already a homeowner and have been through renovations or repairs,  you may have a plumber, an electrician, a roofer, a flooring person and a general carpenter you know and trust. If you’re moving to a new city or you’re a first-time homebuyer, you’re going to have to rely on in-person and online recommendations.

    One of the best places to find good tradespeople is an independent home supplier. They know who’s sloppy and who’s not, and they’ll often have business cards for tradespeople behind the counter. Here’s hoping these seven ways to simplify the process of buying a house make the experience a little less stressful. Happy hunting!

  • Should I Fix or Sell? Seven Benefits of Selling a House As-Is

    When you’ve decided to move on — whether you’re upsizing or downsizing, accepting a fantastic job offer in another city, or fleeing to (or from) the suburbs — think long and hard about what you really need to do to get your house market-ready. You may be tempted to go into renovation mode, but you might be better off selling your house as-is.

    Anything that impacts the home’s operation needs to be fixed before you list, including a leaky roof, a broken furnace, plumbing and the electrical system. These are all things sellers are legally obliged to disclose. If not, a home inspector will identify them to a potential buyer, possibly leading to an offer being withdrawn.

    Here are some things to consider when selling your house.

    1. Renovation ROI may not be there

    Most home renovations don’t pay off instantly. Complete bathroom and kitchen renovations add the most value but also cause the most disruption and can be very expensive. If these rooms haven’t already been renovated, don’t start now. Focus on making sure the existing selling features of the home are in great shape.

     

     

    2. Living in a renovation zone is stressful

    If an owner is fortunate enough to own a larger home with multiple bathrooms and a spare room or two, renovating may not be quite as challenging as it is for those in smaller spaces. But unless personally doing all the work yourself (and sometimes even then), you’re at the mercy of your suppliers’ timelines. You have to live there while renovating even though you’re not going to be the one to benefit. Before you sink $20,000 into a last-minute kitchen transformation, consider just painting or replacing cupboard door fronts and adding new hardware.

  • Finding Fixer Upper Homes for Sale: Can You Afford the Renovations?

    When considering the purchase of a fixer upper home, it’s important to evaluate how much time and money you will have to spend on renovations. It’s often the case that houses needing a lot of TLC are available at rock bottom prices. However, this can mean excessive costs when it’s time for renovations. Here are a few things to consider before taking the leap.

    How much work can you do?

    Determine how much of the work you are willing and able to do. If you’re a master at hanging drywall and your significant other has a knack for plumbing, it’s very possible to save big. This could be the difference between an inexpensive property that needs a great deal of work, but is ultimately within your budget after renovations, and one that is not.

    Keep in mind when deciding which work you’ll do yourself that safety is key. Anything that you don’t truly know how to do, especially things like electrical work, plumbing or jobs involving power equipment, should be left to a professional.

    Consider how much time you realistically have. If you work, take care of your family or otherwise have engagements that occupy most of the day, don’t take on huge DIY renovations.

    Choose contractors wisely

    Before closing on your fixer upper, speak with a few contractors to get an estimate of the work you plan on handing off to a professional. Without knowing how much you’ll need to spend to make the house look the way you want, you can’t know what the real cost of ownership will be. Once you have quotes from several contractors, work with your real estate agent to come up with an offer that considers how much you’ll be spending to get your new home in top shape. Your agent might suggest putting a clause in the contract to have some of the worst problems repaired by the current owners before the closing.

    Before settling on a specific contractor, talk to friends, family and neighbors to get a sense of the quality of work you can expect from each candidate. Reviews go a long way when choosing the best company for specific needs.

    Hire a home inspector

    In most situations that involve a mortgage or other loan from a bank, you will be required to have the house inspected before the loan is approved. Even if this isn’t the case, hiring a qualified home inspector is a critical aspect of ensuring you know what you’re getting yourself into with a fixer upper. For instance, you might be able to tell that the floors in the kitchen will need to be replaced, but only a skilled professional can say for certain whether the foundation is solid or if asbestos is in the attic.

    When it comes to real estate, knowledge is power. Take any information provided by a home inspector and consult your agent about how to proceed. They might recommend working part of the cost into negotiations.

    Add a cushion

    After you’ve decided which portion of the fixer upper’s remodeling you’ll be able to complete, consulted several contractors and had the home inspected, you may be anxious to close. However, there’s another critical step to ensure you’ll be able to afford the renovations.

    Unforeseen circumstances often arise during the process of remodeling. It is essential to account for these when determining what you can afford. A general rule of thumb is to add between five and 10 percent to the anticipated costs, just in case your contractor discovers pipes that need to be moved or if the price of the materials you choose increases. By adding a cushion to your financial projections, you should be in a great position to realistically determine whether a fixer upper home will truly be worthwhile.

  • Step 10. Building Wealth through Homeownership

    step 10Buying a home is viewed as a symbol of the “American Dream” for many and provides a sense of security in an often-unstable economy. Many desire this, but are not sure if it is a tangible financial investment that can turn into a profitable venture long-term. Understanding the meaning of wealth can help you make the entire process more reassuring in the long run.

    What is Equity?

    Equity is the amount of home that a person actually owns. This total is not the mortgage amount, but loan balance subtracted from the value of the home. If this number is positive number, congratulations, there is equity in the home and therefore wealth. If the number is a negative number, then the buyer will likely owe if the home is sold and be indebted at the sale.

    Example:

    Home market value    $322,000

    Mortgage Owed          $100,000

    Your Home Equity      $222,000

    If you sold the home at the market value, you would have $222,000.

    This value can fluctuate dependent on the market, but statistically stays within a 10% average, making homeownership a smart choice. Equity is valuable to the consumer because a homeowner can use these untouchable funds later in life to pay for burdens or unforeseen costs such as home improvements, a new home, college or emergencies. This of the home as a savings fund that will not be touched until the transfer of ownership.

    Overall, this is a popular way to increase wealth because the net worth of the family increases over the years. According to the Federal Reserve, the median net worth of a homeowners in 2016 was between $225,000-$230,000. For families that rent, the average net worth was $5,000.

    How Does Equity Grow

    Equity grows with the value of the home, not just the amount paid down by the homeowner. If a home is in the right market, values can increase as the area becomes more desirable, increasing the property value and the equity margin. For example, if a home is appreciating at a rate of 4% per $10,000, this can be leveraged from a $10,000 investment to a $100,000 investment.

    Benefits to Homeowners

    • Forced savings: This is a way to create a steady savings without having the cash in hand to put into a savings account. For buyers who may have a hard time putting money aside for the future, this is a great way to save funds without manually putting the money aside.
    • Value Versus Renting: People who rent have nothing to show for their payments towards a property when they depart a home. This is the downside to renting. Renting is great in the short-term, but provides zero benefits to most Americans when trying to save for wealth.

    When weighing the pros and cons to a home purchase, consider long-term goals. If a goal for the family is to save for future needs, purchasing a home in the right market can make profits that outpace even the stock market. Weigh the options and choose what is best for the family by discussing the decision with lenders, agents and family.

    Build Wealth
    Build Wealth

  • Step 9. Closing on A Home

    Finally, the home stretch of the buying process: Closing! All inspections have been completed and the appraisal has been processed. This means the next steps for the buyers, sellers, agents and lenders is to work with the title company to become clear to close on the property. Closing is the formal process where a seller transfers ownership of the property to the buyers. After this final process, the buyer owns the home outright.

    On average, this process takes 30-45 days, but 60 day closings are not uncommon. The timeframe of this process is dependent on when the buyer wishes to gain possession, when the seller is willing to vacate and if there were any issues during the inspection period.

    Get an Updated Loan Estimate

    During the initial loan attainment, the lender likely provided a loan estimate (LE), which included the mortgage amount, monthly payments, insurance fees, and any additional fees associated with the closing including title insurance and closing fees. Be sure to attain an updated LE halfway through the buying process and compare numbers. Usually, about a week before the closing, the title company will provide a Closing Disclosure (CD) that breaks down the updated fees for the buyer and seller. If there are any questions or discrepancies, now is the time to ask/amend. Remember that a CD:

    • Is Required to be Provided to the Buyer & Seller at Least 3 Days Prior to Closing
    • Includes All Loan Terms, Projected Monthly Payments, Closing Costs & Fees

    Not sure what all the details are on the CD? Use this interactive closing disclosure explainer.

    What Is Title Insurance?

    The term “title” refers to the collected ownership records of a piece of real estate, including the transfer of any property rights, and any loans using the property as collateral. A clear line of title makes you much less vulnerable to ownership claims from other parties and to outstanding debts of previous property owners. This is part of the closing fees and essential to ensure no other person has claim to the property.

    *Note: The title company can be a separate entity from the settlement company, but is often the same organization.

    Where Is the Closing & What Happens?

    A closing typically occurs at a settlement agent’s office, which can be at the title company’s office or executed by a mobile notary as well. Typically, three documents are signed:

    • Deed of Trust: A deed is the records with the local Clerk of Courts of the transaction and the mortgage lien on the property now owned by the buyer.
    • Promissory Note: A legal agreement that the buyer will pay the lender for the mortgage principal, plus the agreed upon interest, as well as where fund are to be sent.
    • Closing Disclosure (CD): The itemized list of all debts and credits to complete the closing that are associated with the contract.

    If documentation of homeowners insurance has not already been provided, it must be provided at closing. If the down payment and funds for closing have yet to be received, this must be provided at closing as well. This is typically 2-5% of the home’s value and can include recording fees, loan origination fees, notary fees title insurance and homeowners insurance.

    Who Attends a Closing?

    • Buyer or Buyer Rep
    • Agents
    • Seller or Seller Rep
    • Lender Rep
    • Closing Agent
    • Notary Public

    Not all are required to attend and the selling party can sign in a different location than the buying party. This is very typical when one of the parties lives in a different state or during a VA loan closing.

    Closing on a Home
    Closing on a Home

  • Step 8. Purchasing Home Insurance

    Now that such a large investment is drawing to a close, it only makes sense to insure the property for both parties: the lender and buyer. Homeowners insurance protects the homeowner and the contents of the home in case of accidents, theft and other disasters. These unforeseen circumstances can cause serious stress to homeowners and force a default on the loan, without this assistance. Knowing that insurance is needed is one thing, but how much insurance is needed and who to choose to have the policy through can be a headache for some buyers. Feel more at ease by using these guidelines to find the ideal policy for this upcoming purchase.

    A home is typically the largest purchase of your life, protect yourself and your family with the proper insurance.

    Shop Around

    Never go with the first policy submitted for review. Shop around and receive numerous policies to compare coverage and rates. Get quotes from a variety of servicers ranging from local to national companies. Ask neighbors and family members who they would suggest for that specific area. One provider may be excellent in one area, while not as strong in others. This is critical when buying in high-risk flood areas.

    When speaking with these providers, be sure to ask qualifying questions of each provider to determine if they are the correct provider.

    • What percentage of possessions does the policy cover for partial and total loss of home?
    • During a disaster, does the company pay out any funds prior to an inspection of the home?
    • Does the policy cover living costs when unable to stay in the home?
    • Does the policy cover full replacement, or a percentage of the contents in the home?
    • What provisions does the policy incur for floods?
    • Does the policy replace the contents of the refrigerator?
    • How many days can the family stay in temporary lodging covered?

  • Home Inspection 101: This is What You Need to Know (Plus a Checklist)

    Before you purchase a home, hire an inspector to make sure the structure is sound and there aren’t any defects.

    An inspection helps buyers identify serious issues with a house, condo, townhouse or other type of home. Some lenders require home inspections before they’ll approve closing on a mortgage loan. Professional home inspections aren’t always a required part of a purchase contract; they’re a smart part of buying a home and a property investment.

    Whether or not a loan officer insists on an inspection, getting a home inspected is to your advantage. No one wants to find out there’s something wrong with a property after they’ve signed the papers.

    Here’s what you need to know about home inspection, followed by a handy home inspection checklist:

    Not all home inspections cover the same points

    There will likely be numerous home inspection companies and professionals to choose from when you’re buying a home. As you look for an inspector or consider inspection company referrals, keep in mind that not all inspections cover the same points.

    When inquiring or interviewing inspectors, make sure those you’re thinking of hiring will inspect the inside and outside of the property. Inside, an inspector should look for leaks, fire hazards, the health of the house systems and the life of the water tank. Plumbing and wiring inspection are essential to make sure these systems are up to code. Inspectors should look at a home’s ventilation systems and smoke detectors. If the home has appliances, they should be tested.

    Outside, inspectors should check for cracks in walls and the foundation. Missing siding, damage to the roof and cracked woodwork are all issues that may point to structural problems with a home.

    Most general home inspectors won’t check septic systems or insect damage. These are points that you should hire specialists to address.

    Buyers should choose their own home inspector

    As a buyer, you can certainly negotiate who pays for a home inspection. However, consider that sellers paying for an inspection may want to choose the company themselves.

    It’s in your best interest to choose your own inspector when purchasing a home. This may mean that you’ll have to pay out of pocket for the inspection. This service is not usually included in the fees a lender will roll into a loan.

    The cost for a home inspection is typically a few hundred dollars. If you need in-depth inspection of a property, such as a review by a structural engineer, prepare to pay much more.

    In some states, a home inspector must have a license. If you aren’t sure where to look for a licensed home inspector, your real estate agent should be able to offer a referral. It’s a good idea to verify any inspector’s license to make sure you’re hiring someone qualified.

  • Step 7. Home Buying Appraisals

    Once under contract, lenders require an appraisal prior to closing. An appraisal is quite different from a home inspection. A home appraisal is an unbiased and professional opinion on how much the home is worth. This is a required step by lenders that ensures their investment. An appraisal determines the worth of the home and ensures the lender is not providing more money than what the home is worth. This works as a guarantee to the lender’s investment into the home in case the property ever went into default by the buyer. The appraisal price ensures that the lender is likely to recoup their money if this were to occur and they were forced to sell the home either as a short sale or foreclosure.

    Once the contract is accepted, an appraisal timeframe is stipulated within the contract. The lender hires an Appraisal Management Company (AMC) to complete the task and provide documentation to the lender. The average cost of an appraisal is $500. This is usually tacked onto the mortgage fees or the total is requested by the lender from the buyer.

    What Influences an Appraisal and the Appraisal Price

    Formulating an appraisal price is determined by numerous factors, some of which do not include the home itself. Here are some of the major factors of a home appraisal:

    • Recent Sales of Similar Properties: Homes within the area that have similar square footage, room/bathroom ratios, lot size and footprints are often used to help determine an average for the area, which is factored into the final number. The more recent sales in an area, the more accurate the number.
    • Current Market Trends: If the market is hot or cold affects the final number of an appraisal as well. If the home where to go on the market and sit, the lender would have to invest more money into the home, costing additional money. Hot markets raise the appraisal price for buyers.
    • Home Amenities: Sure, the home may be 2500 sq. ft. but is it the opposite of an open floor plan? This can be a deterrent to many buyers, meaning the home will not sell as quickly and/or its value drops. Does the home have damaged vinyl? Does it not have a garage? All the home’s amenities can factor into the final number.

    What Happens After the Appraisal?

    Now that the appraisal is complete and the appraised value has been determined by the third-party appraiser, the final negotiations can begin. If the appraisal is above the contract price, the transaction can continue onto closing. If the appraisal is below the contract price, the lender will determine if you can proceed in purchasing the home, or if you’ll have to look for something else. It is possible to negotiate a reduction, but often a tough battle to win. This is where having a good relationship with the lender comes into play.

    Remember, an appraisal is a requirement to close on any property. A lender will not lend money without the completion of an appraisal, even if there is a home inspection.

    What is a Home Appraisal?
    What is a Home Appraisal?

  • Step 6. Property Inspections During the Home Buying Process

    A property inspection is by far one of the most important portions of the home buying process for any potential buyer. Although home inspections are optional, it is suggested that all buyers spend the additional funds to attain a home inspection. Home inspections average between $300-$500 dependent on the area, but can save the homeowner thousands of dollars in the long run. A home inspector can see and notice issues that the average eye may oversee, which alleviates unanticipated home repairs and increased costs. Adding a home inspection to any purchase offer ensures that any issues that may arise are known upfront. This can affect not only the price of the offer, but whether to continue with the contract.

    What Does a Home Inspection Cover?

    American Society of Home Inspections helps set a standard of practice for home inspections throughout the United States. A typical home inspection includes structure standards, roof & attic inspections, basement inspections, HVAC systems checks, plumbing, electrical appliances and garage space checks. The inspectors are considered 3rd party observers and are there to objectively provide information about any home they are ordered to provide an inspection for. It is suggested that the buyer is present for this inspection to be able to ask the home inspector questions regarding any issues or discrepancies seen by the inspector or buyer.

    Inspections can take 7-14 days to occur and be received dependent on the demand in the area. The inspection report will include the following:

    • If the problem is a safety issue, minor repair or major defect
    • What items need replaced and what needs repaired or serviced
    • What items are suitable for use, but should be monitored by the buyer.

    Once the buyer receives the home inspection report, the buyer can counter the seller with required repairs and updates to continue with the current offer. If the seller is unwilling to make these changes, the buyer can opt for a price reduction or choose to leave the contract.

  • Step 5. Real Estate Contract Negotiation

    As a buyer, finding the perfect home in a realistic budget can be one of the most exciting purchases in a lifetime. Now that the desired home has been found, it’s time to create a contract in coordination with the buyer and their agent. A contract, or purchase offer, is a legal transaction that outlines how much you want to pay for the home, all terms and conditions of the purchase, and legal requirements based on state and local laws. Buyers, sellers, agents and the chosen title company are all involved in the coordination of the successful accepted offer.

    You will work with your agent to determine what is an acceptable offer on the property. Trust the agent’s advice as they know the area extensively and can dictate if the asking price for the home is above the value of the home. Hot markets may also require a higher offer price dependent on bidding wars. No matter what your proposed offer is, consider these tips and questions when making an offer on a home.

    • Condition of Home: Does the home need minimal or extensive renovations? Are these renovation projects something you can handle as the buyer? Will you need to hire contractors? These questions should affect the offer to the sellers.
    • Are there HOA limits? There may be numerous renovations that could improve the home, but these must fall within HOA guidelines. This can affect the price presented as some restrictions may increase or decrease the value of the home.
    • Pet Laws: Consider if four-legged friends are accepted in the community or neighborhood desired. Many breeds such as Pit Bulls, Dobermans, Rottweilers and Chows are restricted. Weight limits can also be an issue.

    Research Contract Language

    As with any contract, the language within can be confusing for even the most knowledgeable of buyers. Research and ask your agent to explain standard stipulations in a real estate contract to help make the decision quick for contract offers. For example, in many areas a home inspection must occur within 14 days unless otherwise mentioned in the contract. Who pays for this home inspection is something that can be negotiated and must be mentioned in the offer.

    Speaking with a real estate attorney is another option for those that wish to be 100% sure that an offer is legal, fair and beneficial. Don’t be afraid to ask the agent or real estate lawyer any question. No question is silly when making such a large purchase.

    Set The Price

    The offer price is the final number brought to the seller for the property. As mentioned above, work with the agent to determine a fair price for the home. Is the area a buyer’s market or a seller’s market? Have homes sat on the market for extended periods of time? Will this home require serious renovation? Is the asking price set to the comparable market value for the area?

    Down Payments

    The lender can help determine an acceptable down payment on a home based on how it affects the mortgage payment and what is an attractive escrow amount for the seller. In previous years, a FHA or Conventional loan down payment was as high as 20%. After the market drop, this has decreased significantly. In 2017, the median down payment was 10%. A down payment is not required with VA loans, but VA funding fees will be required at the closing which can either be rolled into the mortgage or paid at closing. The types and requirements of loan options can be confusing, work with your lender to find the option best for you.

    There are also payment assistance programs available that assist homeowners in specific areas, incomes, ethnicities and additional criteria with providing funds for down payments on homes. To determine what the monthly mortgage payment will be based after the down payment, ask the lender to run the numbers, and/or use mortgage calculators to determine the estimated payment per month.

    Earnest Money Deposits (EMDs)

    An Earnest Money Deposit (EMD) is an initial deposit submitted with an offer to show a seller that the buyer is serious about purchasing the home. This can range between $1,000-$10,000 depending on the price of the home and the area. This deposit will be held in escrow by the title company and go towards the closing of the home. Note: If the buyer backs out of the deal, the buyer may lose this deposit. Choose wisely and read the contract carefully.

    An Offer is More Than a Number

    A final number is extremely important to an offer, but other stipulations and instances affect whether an offer is in favor of a buyer or seller. Here are some additional items to consider when providing an offer.

    • Form of Payment: All cash offers are extremely attractive to sellers as this removes lender contingencies and takes the concern away from the seller as to if a buyer can truly qualify for the loan.
    • Clear Title: If a home does not have clear title, outstanding permits and/or code enforcement issues, this can take additional funds to clear. The contract should dictate in the additional terms who will take care of these issues, whether the buyer or seller. Usually buyers ask sellers to fix and provide an asking price that reflects the headache.
    • Outstanding Taxes/Utilities: If taxes or utility bills are outstanding, this should be reflected in the contract as well.
    • Deeds: There are numerous types of deeds including: General Warranty Deeds, Special Warranty Deeds, Deeds Held by Trusts and Deeds Executed by Courts (Foreclosures). Each has their own pros, cons and headaches. Discuss these differences with the agent and lender and adjust the price dependent of the situation.
    • State Specific Clauses: Each state has their own rules regulations to follow for transactions. Discuss these differences with the agent before submitting a final offer.

    Contingencies

    Contingencies are steps or provisions that must be met before the final transaction goes through (they keep the seller and buyer accountable and protected). Each agent (buyer & seller) should hold each other accountable to ensure that these are done in a timely manner as discussed in the contract and by the appropriate party. These seem like easy steps, but can hold up a closing more often than expected.

    Other Contingencies:

    • Financial: Missing Lender Docs
    • Appraisal: Delayed Production of Docs
    • Clear Title: Title Company Misses Information
    • Home Sale: Seller Needs More Time to Vacate, Buyer’s Current Home Sale is Delayed

    Fine Print: Understanding the contract is so important. Be sure to read over all the fine print and discuss with the agent to not miss any discrepancies.