Ep60 “The Appraisal Contingency”

Welcome back everyone to “The Really REAL Real Estate Podcast!” In today’s incredibly fierce real estate market, houses are selling for $10, $25, even $50,000 over asking price. In addition to paying over the asking price for a home, buyers are paying cash, waiving all of the contingencies, and assuming all of the risk of purchasing a home without completing any due diligence on the home prior to closing and taking ownership. Today, we talk about one important contingency in the real estate sales contract, the appraisal contingency, and why every buyer should think twice before waiving this particular contingency. TALKING POINTS (3-5): • Introduction o This contingency is especially important in today’s sellers’ market • What is an appraisal? • What is a contingency? • Who orders the appraisal? • Why do we need an appraisal contingency as a part of the sales contract? • What happens if I don’t include the appraisal contingency? • What do I need to tell my lender upfront? • Final thoughts o Where are we going to be in 3-5 years as a real estate market? HASH TAGS: #appraisal #contingency #sellersmarket #duediligence LINKS: JASON: https://jasonwilcox.cbintouch.com/ https://www.zillow.com/profile/jasonwilcox1987/ https://www.youtube.com/channel/UCrRksfKiMNteHKYRYrinAug?view_as=subscriber https://www.facebook.com/jason.wilcox.186 https://twitter.com/jason_wilcox1 https://www.instagram.com/jason.wilcox1/ CONTACT INFORMATION: JASON: Cell Phone: 412-651-4638 Email: [email protected]