Many purchase contracts talk about delivering a home in broom clean condition. Legally, it is a very ambiguous term, what does it mean? Sellers learn what it means to you and home buyers find out what you should expect when you take delivery of your new home.
An appraisal gap is when a home appraisers for less than the purchase price of a home. In a hot seller's market, we are seeing this happen on many homes. Home buyers are willing to provide appraisal gap coverage to the home seller and waive their appraisal contingency.
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