Thursday, August 29, 2019 / by Alexander Haigh
There are a few ways a transaction can unfold following this event, and how it impacts you depends on whether you’re a buyer or a seller and what your circumstances are.
If you’re a buyer paying cash for the home, you probably don’t want to add an appraisal contingency because you’re already in a strong position to pay less than its market value and receive favorable terms from the seller. If you’re a seller in this situation, you’re probably OK with accepting a cash offer without an appraisal contingency because you’ll have a good idea of what your property is worth and you’ll be able to take advantage of other benefits this offer provides.
Whether you’re a buyer or a seller, you want to work with an agent who understands both sides of the transaction.
Let’s say you’re a buyer using financing to b ...