| WHAT IF | ||
| Your agent, lender and escrow officer are experienced in working through the "what ifs" | ||
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What
if the
appraisal by the lender, who is making the loan for the buyers, comes in
at an evaluation lower than the sale price, and the loan amount is
reduced? |
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What
if after the
appraisal or the review, the lender will still not increase the loan to
the amount requested by the buyer/borrowers? |
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What
if the
sale price is altered due to a low appraisal, can the sellers then
re-negotiate other items in the transaction such as payment of closing
costs, payment for repairs to be made and even commissions and fees to be
paid to the agents, brokers and lenders? |
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What if the buyer, though they were
pre-qualified for the loan, ultimately do not qualify for the loan?
(This can occur for a number of reasons such as loss of job, divorce,
reduction of income, etc.) |
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What
if one
or more of the parties to the transaction are not completing their part of
the sale efficiently and within the specified time and it appears that
these actions or in-actions are going to delay the closing? |
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What
if the seller
decides not to sell after the purchase contract has been signed and the
closing process has already started? |
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What
if the
termite, roof, home or other inspections result in more work than expected
and the expense for these repairs in much greater than the parties
anticipated? |
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What
if the home
suffers major damage or is destroyed by an earthquake, flood, hurricane,
fire or some other act of nature? |
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What if liens and encumbrances have been placed against the property? For example, it either party were given a large tax lien which would need to be paid out of the proceeds of the sale of the property? | |
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