A Contract is Born
The Appraiser Coach
FEBRUARY 22, 2022
What makes a contract a contract? Is it the legal prose, the professional typesetting, or the date across the top? I’m no lawyer, but my mentor once told me that. Read More.
Contracts Inspection Legal Marketing 
Unwrapping what to expect in your home inspection, appraisal and closing
Housing Wire
JUNE 11, 2021
What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. Home Inspection. Have you budgeted for closing costs?
Inspection 
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9 tips for homebuyers in non-disclosure states
Housing Wire
MAY 21, 2024
Without sales figures, it’s difficult to access comparable sales, and home buyers may find it challenging to gauge the fair market value of a property. Buyers should focus on other factors when estimating a property’s value , such as location, condition of the home, local amenities, and current market trends.
What Does Under Contract Mean in Real Estate?
Raleigh Realty
FEBRUARY 24, 2022
What Does 'Under Contract' Mean in Real Estate? You've decided to buy a home and whether it's your first home or your tenth you're likely to stumble across homes that are listed as 'under contract' on the real estate listing. Then, you look at the status and that other shoe finally has a chance to drop: it's "under contract."
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Real Estate Sales Agreements: Understanding Your Contract
Movoto
APRIL 8, 2024
This is a legally binding agreement between the buyer and seller that helps ensure the sale will be completed according to the contract’s outlined conditions. Real estate purchase contracts come into play to protect both parties and move the sale forward, helping prevent either party from wasting the other’s time and money.
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What Is a Land Contract In Ohio? Full Guide [2021 Update]
The Robert Weiler Company
JANUARY 2, 2021
Are you familiar with a land contract in Ohio, as well as the state-specific requirements? What is a land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in: Farmland or raw land. So, what is a land contract agreement, and how does it work? A home or condo.
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Why Buyers Shouldn't Waive Inspection Contingencies
Eppraisal
OCTOBER 26, 2021
This year the real estate industry is experiencing a market frenzy with a colossal amount of buyers looking for homes. According to an article on keepingcurrentmatters.com, "A normal market's inventory sits at 6 months. When a house comes on the market, buyers flock to it. Inspection contingencies are in place to protect buyers.
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Home Inspections vs Home Appraisals
D Fritz Appraisals
AUGUST 12, 2019
What’s the Difference Between a Home Inspection and a Home Appraisal? If you’re in the market for a new home, the terms “home appraisal” and “home inspection” are more than likely to come up at some point as you zero in on a property you want to buy. What Is a Home Inspection? What Is a Home Appraisal?
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How a Seller’s Home Inspection Can Net You More Money When You Sell
Eppraisal
AUGUST 19, 2022
Home buyers almost always have a professional home inspection performed by a licensed inspection company when they purchase a home. However, it is not a bad idea for sellers to have a home inspection, or pre-listing home inspection, performed as well. This way, you will have fewer negotiations with your buyer.
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5 best Arizona real estate schools for 2024
Housing Wire
DECEMBER 8, 2023
Prospective Arizona real estate agents must fulfill a 90-hour prelicensing program from an Arizona Department of Real Estate (ADRE)-approved school and pass a six-hour contract writing course , for a total of 96 class hours. Course includes contracts used in real estate transactions with samples and practical contract completion exercises.
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Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In
Realtor
OCTOBER 29, 2020
These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency. Clear the title. Review your closing disclosure. Do a final walk-through.
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The hybrid appraisal is here. Who benefits?
Housing Wire
JULY 12, 2022
Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.
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Options for Buyers Wishing to Inspect a Seller’s Home
Will Springer Realtor
MARCH 1, 2022
A home inspection is almost always the best route to take before purchasing a property. In a competitive market, however, buyers recognize that submitting an offer with a request to conduct a traditional inspection can hurt their chances of winning a bidding war. Request an ‘information’ inspection with the offer.
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7 Takeaways: Due Diligence Fee and Earnest Money in Real Estate
Raleigh Realty
AUGUST 17, 2021
Understanding Due Diligence and Earnest Money in North Carolina Real Estate When you go under contract on a home in North Carolina you are going to encounter terms like Due Diligence and Earnest Money. It's important to note that real estate contracts and laws change depending on what state you are in. Due Diligence: What Is it?
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NFT mania and the future of the home sale
Housing Wire
MARCH 7, 2022
The creation of the NFT real estate market thrusts a spotlight onto a Silicon Valley company specifically throwing itself into real estate, blockchain and NFTs. It’s a great marketing tool for the right type of listing. The NFT representing ownership of an LLC representing ownership of a house is 100% legally meaningless.
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GSEs further expand AVMs, desktop and hybrid appraisals
Housing Wire
JUNE 14, 2022
The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. Non-traditional appraisals to the rescue. Appraisers have, in the past, fretted over liability and data reliability.
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Who Needs Appraiser’s When One Has Cash?
Cleveland Appraisal Blog
MAY 27, 2021
While it may seem like many buyers don’t care about what the market value of a home is, I think that we must be careful to not make that assumption. If a homeowner hires the appraiser to appraise a home, the appraiser’s legal duty is to the homeowner, since they are the ones who hired the appraiser. . MARKET TRENDS.
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Pros and Cons of Selling Your Home As-Is
Cleveland Appraisal Blog
AUGUST 11, 2022
Therefore, you don’t have to fix or account for any issues that might be discovered in a professional home inspection issued by the buyer. The type and range of information you have to provide in the seller’s property disclosure will, of course, depend on the legal regulations of the state where you have the property.
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Just Put in an Offer on a Home? Here's What to Expect
Eppraisal
OCTOBER 23, 2023
Your bid may need to be higher, your contract contingencies may be undesirable or other buyers may have more attractive financing requirements. You can say no to the counteroffer, accept it or propose new changes to the contract. Arriving at a verbal agreement differs from being in a contract.
Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In
Realtor
OCTOBER 29, 2020
These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency. Clear the title. Review your closing disclosure. Do a final walk-through.
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7 Takeaways: What Does Contingent Mean in Real Estate? (Video)
Raleigh Realty
MARCH 31, 2021
In every market though, things happen where homes that are under the contract may not reach the closing table and the contingency clause usually protects the buyer and sometimes the seller in the event the parties decide to terminate. When the home is marked contingent, the seller may still accept back up offers.
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9 Things to Know Before Selling a Home For Sale by Owner
Raleigh Realty
MARCH 23, 2021
We would imagine it's the same in most real estate markets around the country as we have found the same to be true of homes for sale in Charlotte as well. From listing the home, marketing it to buyers, managing showings and open houses, and negotiating a sale, there’s a lot to stay on top of (not to mention the extensive legal paperwork).
4 Ways to Help Manage Client Expectations
McKissock
JULY 6, 2022
I believe it is helpful to consider topics such as: communication during the transaction , condition of the property, marketing, negotiation process, timelines, transfer of ownership, etc. I would recommend including at least property access, financial outcomes, and potential roadblocks from contract to closing.
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How Surplus & Excess Land Work
Cleveland Appraisal Blog
JANUARY 7, 2021
However, what if the car salesman said that the buyer would have to sign a contract stating that they could not resell the second car? In that analysis we must determine if the use of the land is legally permissible, physically possible, financially feasible and most profitable. They would just have to figure out a way to use it.
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For Sale By Owner (FSBO): A Comprehensive Guide for 2023
Listing Spark
OCTOBER 9, 2023
You set the price, decide how to market your home, and negotiate directly with buyers. Cons: Limited exposure compared to agents’ vast networks and marketing resources. Most notably, no access to the local Multiple Listing Service (MLS) which contains the largest database of homes in your area being marketed and sold.
USPAP Myths for Appraisers
Appraisal Today
JANUARY 5, 2024
Arouse the suspicion of an entire neighborhood when inspecting comparable sales. Spend hours writing volumes of supporting documentation to justify the market value of a property you already decided on when you pulled into the driveway. You’ll learn key ways to work on eliminating bias and reduce your legal risk.
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Ways Home Buyers Can Get Their Offer Selected
Hank Miller Team
FEBRUARY 27, 2022
Coming off the frenzied Atlanta 2021 real estate market, it's hard to imagine things could get tougher for home buyers, but they are. Depends on how motivated the buyers are and how well educated they are to the proclivities of the market. This market is unlike any prior one, there are buyers that must and will buy a home.
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Institutional SFR players are stuck in the doldrums
Housing Wire
APRIL 27, 2023
Another larger player in the space, Progress Residential , recently postponed a securitization transaction due to difficult market conditions. And yet another big force in the market, FirstKey Homes , is pulling collateral out of a 2021 securitization deal.
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7 best real estate classes in Ohio (OH) for 2024
Housing Wire
NOVEMBER 30, 2023
Real Estate Law: Covers Real Estate Law and Legal areas Impacting real estate professionals Examine the law of agency as applied to real estate brokers and sales personnel, law of fixtures, estates, mortgages and liens, OH license laws of Ohio, zoning & more. Athens Campus location. Mandatory Core Course Meets CE Requirements.
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What Does "As Is" Really Mean
Eppraisal
SEPTEMBER 30, 2021
It is one of the strongest seller's markets we've ever seen in the real estate industry. Many real estate contracts have this provision written in as an optional paragraph. The buyers and sellers need to initial the paragraph to make it part of the contract terms. However, it's the legality of the situation.
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9 Things to Know BEFORE Your Home Appraisal
Raleigh Realty
FEBRUARY 19, 2022
They can keep buyers up at night after going under contract on a home. The seller accepts your offer and you are officially under contract and the home will be marked contingent. Your mortgage lender is legally required to send you the appraisal report and cannot withhold it from you. What do they look for in a Home Appraisal?
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The Many Shades of Earnest Money
Eppraisal
JULY 12, 2022
Earnest money is the money a buyer offers to have deposited at contract time to show he is earnest or serious about purchasing the home. How Earnest Money Works When you submit an offer to purchase a home, part of the contract deals with earnest money. What Happens to the Earnest Money if the Contract is Canceled?
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How to Find a Property Manager Company in Ohio
The Robert Weiler Company
MARCH 29, 2023
Property managers are proficient in rental space marketing. With regularly scheduled inspections, potential issues are discovered early on before it turns into an emergency. Also, you can sometimes obtain maintenance services at a discounted rate when the work is contracted through the property management company.
The Real Estate Transaction: Part 2 - From the Eyes of the Seller
Eppraisal
DECEMBER 23, 2022
Listing and Showings After you have listed your home for sale and your listing agent has all the marketing and advertising in full swing, you will start having "showings" Be sure that all buyers are accompanied by licensed real estate agents. The contract allows the buyer a certain number of days to have home inspections performed.
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The Ultimate Guide to Estate Planning Appraisal for Real Estate Properties
The Robert Weiler Company
MAY 14, 2021
Operationally, it triggers a series of legal processes necessary to reallocate ownership of assets and belongings from the deceased to their beneficiaries. Settling an estate usually requires probate, the legal process reassigning ownership from a deceased person to their living beneficiary performed in court.
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Selling a home as-is: What you need to know in 2022
Listing Spark
DECEMBER 2, 2022
Prepping a home to hit the market can cost a lot of time, energy, and money. Unfortunately a contract’s “as-is” clause can be confusing for some sellers. The “as-is” clause on a standard Texas TREC contract can be confusing for some home-sellers. How can that be possible?
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Everything You Need to Know About the Texas Seller’s Disclosure
Hood Homes Blog
SEPTEMBER 23, 2019
The Seller’s Disclosure is required by law, but ultimately not very useful Do your own due diligence on a property, including a third party inspection ! In the Contract. It is not typical in the Fort Hood market, but in hot markets like Austin, 5-day option terms are not unheard of. The Fort Hood Inspection.
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New Year, New You: Transforming Your Appraisal Career in 2023
McKissock
JANUARY 6, 2023
An assessor may contract with an independent fee appraiser to help identify property characteristics, measure properties, confirm the building’s condition and quality of construction, or review assessment disputes from taxpayers. These may be full-time jobs or contracted services.
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Practical Tips for Working With AMCs
Appraisal Today
NOVEMBER 4, 2022
Our office updates AMCs on every scheduling attempt with details, every inspection appointment set and completion, and any materials needed ASAP in the assignment. Appraisers tend to get annoyed with constant emails from the AMC about inspection date, completion, report submission, etc. Property inspection date. Effective date.
Pre-Appraisal Checklist for Homeowners
D Fritz Appraisals
MARCH 16, 2021
The benchmark for your home’s worth, an appraisal is a legal document that determines the fair market value of a property. Thinking back to when you first listed your home, you likely cleaned it top to bottom and got it looking as good as new for the marketing materials. Home inspection reports (current and previous).
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7 Problems to Watch Out for During a Home Renovation
Eppraisal
OCTOBER 20, 2023
To prevent plumbing problems, hire a licensed plumber with a strong track record to inspect your existing system before starting the project. Inspect for water seepage — a common issue in older homes where water can infiltrate from the roof, walls and leaky plumbing lines.
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Find Out What Really Happens When You Waive Contingencies to Score a Home
Realtor
DECEMBER 7, 2019
Monopoly: Hasbro Concept: Greg Chow In a white-hot market, you may feel pressure to make some concessions to win over a seller—and, no, we’re not talking about sending a basket of banana-nut muffins. That’s all hunky-dory in a buyer’s market. Contingency: Home inspection. Remember—these aren’t hard rules.
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Pros and Cons to Selling a House As Is
PennyMac
SEPTEMBER 6, 2023
Especially in a seller’s market, you will likely be able to sell successfully. Buyers will have an inspection done and the cost of some repairs or updates, especially those regarding safety, often falls to the seller. Less hassle and negotiating A home inspection that uncovers a lot of issues can cost a decent amount of money upfront.
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Fannie Mae: No Appraisals Required? 3-10-23
Appraisal Today
MARCH 31, 2023
First, “third party” inspections. And, with this inspection a traditional appraisal is no longer a requirement for the mortgage loan. Secondly, the 3rd party inspection is sent to a licensed appraiser. The only reason for these changes are about a piece of the 11 TRILLION dollar mortgage market.
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