If the Buyer is getting a Conventional Loan and the appraisal comes is low, what must the Buyers do to protect themselves based on this contingency? Well, it DEPENDS on what contract under which the parties are binding! There are very different obligations of the Buyer from the Georgia Association of Realtors (GAR) contract vs. the RE Forms contract with respect to the Appraisal Contingency! Watch the video to find out what to do to make sure the Buyer doesn’t terminate by default!
Next Week is Part 2 – what those specific time frames are!