Found 2 blog entries tagged as buying a home.

 

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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A real estate transaction can be an emotional roller coaster, especially for first-time buyers. A home is not an everyday purchase—you’re buying your future, the place where your kids will grow up and a lifetime of memories will be made. And a house has a much higher price tag than anything else you’ve ever bought. That alone can be scary. The money and emotions make up a big cocktail of stress. A study commissioned by homes.com shows that first-time buyers find the process overwhelming;   

  • 1 in 3 buyers cried during the process. 
  • 2 in 4 experienced anxiety. 
  • 44% of buyers felt nervous throughout the process. 
  • The average buyer had four arguments. 
  • 2 in 5 described buying their first home as “the most stressful event in modern life.”
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