Mortgages have become more expensive because of the Federal Reserve’s campaign to get inflation under control.
In the process of transitioning from selling their current property to purchasing a new one, homeowners often confront a significant challenge. The financial dynamics may require certain sellers to sell their existing property in order to generate the necessary funds for a down payment on their prospective home. Fortunately, a practical remedy exists that alleviates the complexities of finding temporary housing during the intermediate phase – typically the period between property sale and the completion of the new purchase. This remedy comes in the form of a "rent back" arrangement or post-settlement occupancy agreement, as stipulated in contracts.
When selling a home in DC, Maryland, or Virginia, you'll encounter various options regarding the home inspection contingency that can influence your transaction. Understanding these choices will help you and your real estate agent determine the approach that aligns with your goals.
Congratulations on making a significant step towards selling your home! You've put in the effort to prepare your property and attract potential buyers, and now it's time to navigate the process of home inspections to ensure a smooth and successful transaction. Just as buyers go through the excitement and anticipation of finding their dream home, sellers too must be proactive in understanding the importance of home inspections and how to approach them strategically.
Home appraisers are professionals who provide an unbiased assessment of the value of a property. Their job is to determine the fair market value of a property by examining the property's features, assessing its condition, and analyzing comparable sales in the area. Lenders use appraisals to ensure that the property's value is in line with the loan amount being requested.