When you enter into a purchase agreement on a home, your mortgage lender will hire a licensed appraiser to assess its value. The independent appraisal assures the lender that the property is worth what you offered to pay for it. Sometimes, though, the value may come in low, and this “appraisal gap” can cause closing […]
Sell First, then Buy? or Buy First, then Sell?
Like the classic negotiating problem called the Prisoner’s Dilemma, there are trade-offs when trying to decide if you should sell your current home before buying, or buy before selling. If you’re a home owner wanting to move, you face a classic dilemma. If you make one choice—sell first, then buy—you stand to lose one way. […]
Here’s Why You Shouldn’t Max Out Your Budget When Buying A Home
When it comes to purchasing a home, it’s easy to get caught up in the excitement of finding your dream property. However, it’s important to consider the potential drawbacks of maxing out your budget for this significant investment. By buying a home that is within your means, you can maintain financial stability and preserve the […]