Many things happen when you buy a new home, and sometimes things don't go your way. When purchasing with a mortgage, one issue you can have is an appraisal gap. If there is an appraisal gap, you could lose your dream home. We will examine what happens when the real estate appraisal is lower than the purchase price and what you can do about it. From three decades of experience selling homes, I have dealt with appraisal deficiencies several times. What is an Appraisal Gap? The simple explanatio...| Maximum Real Estate Exposure
Check For Potential Issues When Buying Your First House Do you understand what's needed for due diligence in real estate to be completed? If you are a first-time homebuyer, you are probably doing all the research to ensure you don't make any mistakes. Performing due diligence increases the odds that you won't regret purchasing. The homework you are doing now is essential because a lot goes into buying a home—which means you have a lot to learn in a relatively short time. The due diligence p...| Maximum Real Estate Exposure
What is an Appraisal? Appraisals and appraisal contingencies are standard parts of most real estate transactions and the home-buying process. A real estate appraisal is often conducted when purchasing a home and getting a mortgage. It ensures that you pay the fair market value for a property. Appraisal is a requirement of mortgage lenders before they provide financing. They want to ensure that the asset they're lending against has sufficient equity. The home appraisal establishes a value base...| Maximum Real Estate Exposure
Have you heard your mortgage lender or real estate agent mention title searches and wondered what they were referring to? Property searches are done on nearly every real estate transaction. Understanding a title search is crucial when purchasing a house or other real estate. Property title searches examine public records to confirm a property's legal owner and verify whether there are any liens or claims that could impact a buyer's ability to purchase. Buying a home can be an exciting experie...| Maximum Real Estate Exposure