Home appraisals are a crucial step in the home buying process. It determines the property's fair market value and helps lenders decide how much money to loan for the purchase. Ideally, the appraisal matches or exceeds the agreed-upon purchase price. However, when the appraisal comes in lower than expected, it can cause stress for both buyers and sellers. Knowing how to handle this situation calmly and strategically is key to keeping the deal on track. Why Appraisals Come in LowA low appraisal … [Read more...]
How to Negotiate Home Repairs After an Inspection
A home inspection is one of the most important steps in the home buying process. It gives buyers a clear picture of the property's condition and can uncover issues that are not visible during a showing. From roofing problems to electrical concerns, an inspection helps ensure you know exactly what you are purchasing. However, once the report arrives, the next step, and negotiating repairs, can feel overwhelming. Reviewing the Inspection ReportWhen you receive the inspection report, take time to … [Read more...]
What Happens If a Seller Backs Out of a Deal
Buying a home is an emotional and financial journey, and most buyers expect the process to move smoothly once an offer is accepted. However, there are times when a seller decides to back out of the deal. This situation can be stressful, especially for buyers who have already started preparing for closing. Understanding your rights and the possible outcomes can help you respond calmly and confidently. Can a Seller Legally Back Out?Once both parties have signed a purchase agreement, the contract … [Read more...]
Understanding Mortgages and Inflation and How Borrowers Can Benefit
Inflation affects nearly every part of the economy, from grocery prices to the cost of borrowing. For homeowners and buyers, understanding how inflation impacts mortgage rates and payments can be a powerful advantage. While rising prices can feel discouraging, there are strategic ways borrowers can benefit during inflationary periods. How Inflation Impacts MortgagesWhen inflation rises, the value of money decreases, and interest rates increase. This is because lenders want to protect the value … [Read more...]
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