article thumbnail

What is a home appraisal gap?

Housing Wire

Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. Four renovations to consider before selling your house. If you didn’t have the contingency, you’d have to forfeit your earnest money deposit in order to back out.

article thumbnail

What to Look Out for when Working with Cash Buyers

CT Homes

Unless you’ve seen the tactic before and know how to prevent it, buyers may take advantage of their Earnest Money period to complete their due diligence. It’s a loaded question, and depends on a couple things… the complexity of the renovation necessity of additional inspections (I.e.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What to Look Out for when Working with Cash Buyers

CT Homes

Unless you’ve seen the tactic before and know how to prevent it, buyers may take advantage of their Earnest Money period to complete their due diligence. It’s a loaded question, and depends on a couple things… the complexity of the renovation necessity of additional inspections (I.e. easy peasy!

article thumbnail

What to Look Out for when Working with Cash Buyers

CT Homes

Unless you’ve seen the tactic before and know how to prevent it, buyers may take advantage of their Earnest Money period to complete their due diligence. It’s a loaded question, and depends on a couple things… the complexity of the renovation necessity of additional inspections (I.e. easy peasy!

article thumbnail

11 Homeselling Myths, Debunked

The Close

So, let’s turn up the brightness and shed some light on the real estate industry. Setting the Right Expectations Myth #1: Going With the First Buyer Is Rarely the Best Choice After navigating hundreds of real estate deals, I can confidently say that your first offer is nearly always the best. This is one of the top blunders your sellers could make.

article thumbnail

Practical Points for Real Estate Agents

First Team Real Estate

For example, there are three types of payments by the potential buyer before close of escrow: the option payment, the lease security deposit, and the earnest money deposit. Real estate agents need to be aware of the different aspects of each such payment and treat them separately. Why would the option not get exercised?

article thumbnail

16 Tips to Win a Bidding War on a House

The Close

Offer a Sizeable Down Payment Make a big impression by offering a large earnest money deposit (EMD) to hold the contract. I’ve compiled a list of my top tips on how to win a bidding war on a house to help you outsmart your competition and get your clients into their dream homes. That’s just 2% on a $250,000 home.