Most Utah Homebuyers believe that the appraisal is being done to protect the Buyer. Although it may ultimately do so, the appraisal is really to protect the lender.Appraisers are hired to protect the Buyer's lender(s). A main part of their job is to determine if there is enough collateral value i
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05/17/2007
In Utah, THE APPRAISAL CONTINGENCY allows a Buyer to cancel the contract and have their Earnest Money returned, if the property under contract appraises for less than the contractually agreed price. This contingency has deadlines by which the appraisal and cancellation need to be made. Almost all
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05/17/2007
In Utah, THE FINANCING CONTINGENCY in an offer is a protection to the Buyer if their financing falls through. It allows the Buyer to cancel the contract without forfeiting their Earnest Money. If not included in the offer, and the Buyer's financing falls through, the Seller can either cancel the
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05/17/2007
Most people think of Earnest Money only as a protection for the Seller. In some cases a Buyer gets cold feet. Other times, a Buyer ties up the property and is ultimately unable to perform after all contingencies have passed. The Earnest Money is widely considered to be a fair sum, to pay the Sell
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05/17/2007
Let's Talk More about Earnest Money...DETERMINING HOW MUCH EARNEST MONEY TO PUT DOWN when making an initial offer. (Very Important) The amount of Earnest Money you include with your offer is important because it can create advantages or disadvantages in setting the stage for successful negotiatio
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05/14/2007
You have seen the available homes on the market that fit your budget and match your criteria and have decided on the one you want to make an offer on. GREAT!In Utah, in order for your offer to be valid it is required to be backed by "good and valuable consideration."In almost every case, this rea
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05/14/2007
FTC Consumer Alert - Buying a Home: It's a Big Deal The Federal Trade Commission just released a Consumer Alert (May 2007) titled "Buying a Home: It's a Big Deal."It can be accessed here:http://ftc.gov/bc/edu/pubs/consumer/alerts/zalt001.shtmIt clearly explains agents, brokers, commissions, discl
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05/14/2007
Many buyers in the Salt Lake City, Utah area have been unsure of their standing in the credit department. This has led them to agree to pay a higher interest rate, convinced that they should, when in reality, their credit may not have been low enough to merit the higher rate. Those who believe th
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05/14/2007
Get Technology Working For YouWith our Preferred Buyer Search, Salt Lake City Area Buyers help us program our database to search the entire inventory of listed homes for sale. Our computers will easily find the homes that match YOUR specifications. This search accesses the Wasatch Front Regional
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05/14/2007
Breaking News!CNN Money just posted their Spring Home-Buying Guide for Spring 2007!The link is:CNN Money - Spring Home-Buying Guide: 6 ways to do it rightThey say to get pre-approved first, shop at least 4 or 5 lenders, work with an agent who will represent you only, etc. etc. etc. The same thing
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05/09/2007
