Remove appraisal
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3 Times Your Earnest Money Deposit Could Be At Risk

Dwell Real Estate

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1 to 5 of the real estate purchase price as earnest money. (If

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3 Times Your Earnest Money Deposit Could Be At Risk

Dwell Real Estate

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1% to 5% of the real estate purchase price as earnest money. (If

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How Can a Buyer Get Their Earnest Money Back?

Realty Biz

You must put up an earnest money deposit when you buy a home. The purpose of earnest money is to show you're serious about buying. Many people refer to earnest money as a good-faith deposit. Earnest money deposits can be used as leverage in negotiations.

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When Can a Buyer Cancel a Home Purchase Agreement?

HomeLight

Sale price and terms: The agreed-upon price for the property and the terms of the payment, including the earnest money deposit amount and financing details. Appraisal concerns: If the property appraises for less than the offer price , it can jeopardize financing, prompting buyers to back out.

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Understanding Why Under Contract Homes May Fall Apart

Realty Biz

Additionally, low appraisals can lead to financing issues as they can affect the agreed-upon price. Appraisal Shortfalls If the property appraisal comes in lower than the agreed-upon purchase price, it can create a discrepancy between the buyer's expectations and the lender's willingness to provide financing.

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How Long Can a House Be Under Contract?

Norada Real Estate

However, if the buyer encounters financing issues, such as a low appraisal or loan denial, the under-contract period can be extended while they work to resolve the issue. Appraisal Contingency The appraisal contingency allows the buyer to have the home appraised to ensure that it's worth the purchase price.

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First Time Selling a House Checklist

Realty Biz

If there is a wide spread on the value of your home from real estate agents, get a professional appraisal. Some common contingencies to consider include financing contingency, appraisal contingency, inspection contingency, and title contingency. Take the emotions out of pricing and make a sound business decision based on facts.