For a homebuyer who is concerned with reducing their environmental impact, does this home offer amenities, and is it located in a place that can help the buyer achieve those goals? Based on this criteria, and the points below, we believe so!
This three-bed, two-and-a-half-bath home in Oakland comes with an energy-efficient radiant heating system, which according to a recent study is up to 25% more efficient than traditional forced air heating systems. It also has an on-demand (tankless) water heater and access to an EV charger in the garage. With a solid 72 walk and excellent 83 bike score, daily errands can be easily completed without a car.
This combination of energy-efficient amenities, EV-friendliness, and high walk and bike scores earns this home ZeroDown’s 'Green' Hot Pick.
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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.
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