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The Top 10 Cheapest States To Buy a House in 2021

If you're looking to move and purchase your first home, forever home, or an investment property, knowing which US states are the cheapest to buy a home in is vital...

Hot Pick Home: 'Restful' in the Bay Area - April 5, 2021

Does this San Jose home have amenities and is it located in a place that emphasizes peace and quiet?

Hot Pick Home: 'Neighborly' in the Bay Area - April 5, 2021

Is this Martinez home located in an area and does it have access to amenities that make it conducive to a neighborly, civic lifestyle?

Hot Pick Home: 'New Build' in the Bay Area - April 5, 2021

Is this new Fremont home move-in ready with features that will keep it a comfortable home for decades?

Hot Pick Home: 'Green' in the Bay Area - April 5, 2021

For a homebuyer who is concerned with reducing their environmental impact, does this San Jose home offer amenities, and is it located in a place that can help the buyer achieve those goals?

Minimum Down Payments on Conventional Conforming Loans

Looking into mortgages and wondering what your minimum down payment options are? Our experts break it down, loan by loan.

Word of the Day

Appraisal Contingency

To ensure that the buyer (and lender) is paying a fair amount for the home, buyers insert an appraisal contingency, which allows the buyer the ability to walk away from the purchase without penalty if the appraisal returns a value lower than a set value (usually the purchase price). Aside from walking away, the buyer can renegotiate for a lower price with the seller, request that their lender make an exception, and approve their loan as if the property had appraised to match the purchase price or make up the difference between the purchase price and appraised value via their own funds. In most cases, if the buyer makes use of the appraisal contingency to walk away, they are likely to receive a complete refund of their earnest money. However, buyers must be cautious and include this in the contract to avoid problems at a later stage.

Marta decided to back out from the sale via the appraisal contingency after the home was valued below the purchase price.

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