What if a house appraises for less than the asking price?

Appraisal is lower than the offer: If the home appraises for less than the agreed-upon sale price, the lender won’t approve the loan. In this situation, buyers and sellers need to come to a mutually beneficial solution that will hold the deal together — more on that later.

Can a realtor refuse to do a home inspection?

I always insist that my buyers get a home inspection. And if I’m representing a Seller – I still always tell the Buyer’s Agent involved that their Buyer either needs to do a home inspection or sign a waiver that they declined. Let me tell you a true story.

Can a new buyer request a prior buyer’s inspection?

Hooray! Then came time for the buyers to inspect. Their agent requested a copy of the prior buyer’s inspection report. I asked the previous agent if that would be okay, and she agreed, so we provided it to the new buyers. Then I asked the new buyer’s agent when the buyers would be doing their own inspection.

When do you have to have an inspection on a house?

Paragraph 12 of the FR/Bar AS IS Contract states that the “ buyer shall have X (if left blank, then 15) days after Effective Date ‘Inspection Period’ within which to have such inspections of the Property performed as buyer shall desire during the Inspection Period.

Can a buyer cancel during the as is inspection period?

So if your sellers don’t like the fact that buyers could cancel for their own unpredictable reasons during the FR/Bar AS IS inspection period, the seller may want to consider using a different contract.

What to ask for after a home inspection?

Once a home inspection report comes back during the home buying process, many buyers wonder what they can ask for, repair-wise. What’s too much? What’s reasonable? Is there a way both parties can meet in the middle? Here’s how to successfully go about requesting repairs after a home inspection.

Can a buyer back out of a home inspection?

(Some sellers will include a clause saying they are not responsible for repairs below a certain value.) If the defects are severe enough, buyers can also back out of the deal entirely. “There is a lot of competition for homes in certain areas,” says Karen Kostiw, a real estate agent with Warburg Realty in New York.

Can a buyer refuse to give a seller the inspection report?

To be clear, it is within the buyer’s right to refuse your request. While you have every right to be curious and anxious to see that inspection report, it’s not always advisable that you make that request. “Typically, I will advise my seller clients to not ask for the report,” says Hagan.

Why do some home buyers waive home inspection?

If you’re buying a home in a competitive market and your offers keep getting beat out, you may be tempted to resort to desperate measures. In addition to offering more than the asking price or a quick closing, some buyers agree to waive inspections.