Looking to the Lender It’s common for Buyers — especially first-time Buyers, at lower price points — to include seller-paid closing costs as part of their offer. So, instead of offering $200k for a home, the Buyer may offer $206k less $6k in seller-paid’s. See, “Maximum Seller Contribution: Not Just 3% Anymore.” To the Seller,...Read More
Changing Mix of Comp’s (“Comparable Sold Properties”) It may strike non-professionals as odd, but real estate market values are established by “looking through the rear view mirror” — that is, by scrutinizing recent, similar sales as near to the subject property as possible. Every rule has its exceptions, but the conventions in residential real estate are: ...Read More
How does a listing agent who just sold their client’s home in multiple offers ensure that it appraises? A. Provide the Appraiser with helpful Comp’s (Comparable Sold Properties). B. Email the Appraiser the runner-up offers (with identifying info expunged). C. Raise the listing price on MLS. D. All of the above. Correct answer: D. Of course,...Read More
