Found 2 blog entries tagged as purchase agreement.

In the ever-evolving landscape of real estate, the allure of a brand-new construction home is undeniable. From customizable features to modern designs and energy-efficient technologies, the benefits are abundant. If you're considering embarking on the exciting journey of purchasing a new construction home, this guide will walk you through the essential steps and provide valuable insights to ensure a smooth and informed homebuying experience.

Why Choose New Construction Homes

New construction homes present a myriad of advantages that often outweigh their resale counterparts. Modern designs, energy-efficient technologies, and the ability to customize your living space are just a few of the compelling reasons to consider this option. Reduced…

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When housing markets begin to cool after record highs, some homebuyers get cold feet. Imagine you buy a home for $1.2 million. When it comes time to close after you have signed your purchase agreement, you notice a comparable home down the street sells for $855,000. What happens when a buyer backs out of a real estate deal?

Some homebuyers choose to walk away when it comes to closing day, despite agreeing to purchase the property. Another common scenario occurs when a homebuyer backs out after overbidding in a hot market and going over budget. Once it comes time to close, the bank completes an appraisal and refuses the entire mortgage amount. The homebuyers need to come up with hundreds of thousands of dollars to close. They walk away because they…

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