The Cobb Group Blog - buyer

Is a low appraisal good for the buyer?

Posted by The Cobb Group on May 19th, 2021

 

Ask the next ten real estate agents you meet to tell you the biggest reason why a deal falls through. The odds are every single one will say it’s because of financing, usually because of a low appraisal.

But the fact is, a low appraisal can be good (and bad) for a buyer and there are ways to salvage the transaction and get the property you want. 

In this article, we’ll explain the biggest reasons for a low appraisal, how to get the appraisal that matches the purchase price, and what to do if your home appraisal comes in low.

What is an Appraisal?

One of the common contingencies in a real estate purchase contract is that the property must appraise for the purchase price. A home appraisal is a report provided by a licensed professional that…

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It’s Tempting, but Don’t Do It: The Perils of Moving in Prior to Closing

Posted by The Cobb Group on March 4th, 2020

 

It is not a given that every sale will close on the contracted closing date. With this in mind, it is important to have contingency plans to cover any delays that will hinder moving plans for both buyer and seller. The buyer who wants to move in prior to a delayed closing and the seller who accommodates such a request may find themselves in a predicament if things don’t go according to plan. Keep in mind that even if there is a written agreement to allow an early move-in, a legal dispute can still evolve from the unforeseen.

Early occupancy by a buyer means that the seller will have to maintain insurance on the property until closing, but there will be a potentially costly change to that policy. The new coverage would be landlord…

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6 Ways To Get Your Home Ready For A Spring Sale

Posted by The Cobb Group on December 11th, 2019

Selling your home in the spring doesn’t mean you have to actually wait until spring to prepare your home for a sale. After the holiday whirlwind of festivities and guests, it’s time to get your house in order this winter for a successful spring sale.

I asked two pros, Mary Cook, president of interior design firm Mary Cook Associates in Chicago, and Judy Dutton, deputy editor of realtor.com, for advice on what you can do now to get ready for spring showings and open houses. Here’s what they had to say.

Let natural light flood the rooms. “The best way to prepare your home for a spring sale is to open it up, lighten it up and brighten it up,” says Cook. For instance, she recommends raising shades and opening curtains to let in natural light.…

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11 Mortgage Questions You Don't Want to Ask

Posted by The Cobb Group on September 11th, 2019

You can’t shock your loan officer. They’ve heard it all before. Count on the fact that your loan officer has answers to all the uncomfortable mortgage questions you may be too afraid to ask. Itchy topics like getting a home loan with no job, taking an ex off your mortgage after divorce, and filing for bankruptcy aren’t as scary as you think.

Opening up your personal life and your finances to someone you just met isn’t easy. Understandably, many borrowers are hesitant about laying all their cards on the table. Vanguard’s 2017 research found that a strong financial relationship is built largely on emotional trust. In short, looking out for a borrower’s interest. Finding a loan officer who’s not only willing but happy to answer some of your stickier…

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