Time Frames to Negotiate a Low Appraisal – Conv Loan – RE Forms Contract

Time Frames to Negotiate a Low Appraisal – Conv Loan – RE Forms Contract How to negotiate a low appraisal on a Conventional Loan in the RE Forms (“FMLS Contract”) contract. What is the process? What are the time frames? May a Buyer simply terminate the contract? What happens to the Earnest Money? In Georgia, what’s the difference between the processes in Georgia Association of REALTORS (GAR) vs. RE Forms? Watch the video to find out!   Low Appraisal – Conv Loan – GAR Contract: https://youtu.be/RdFNzqLGlbQ Do Exhibits Need to Be Attached? – https://youtu.be/lBIZvz8LlLI   00:00 Introduction 00:42 The Situation 01:13 RE Forms RE100 – Contract for Purchase of Real Property in Georgia Paragraph 6.2 02:03 RE Forms RE1 – Standard Terms for Purchase of Real Property in GA Paragraph 6.2 03:18 What Happens if Appraisal is lower than Sale Price 04:16 Similarities on this issue between GAR Forms & RE Forms 04:55 Differences on this issue between GAR Forms & RE Forms 05:55 Biggest Difference Between GAR Forms & RE Forms regarding Low Appraisal Conventional Loan 06:15 Bottom Line for Low Appraisal Conv Loan RE Forms   Please browse “Videos” or “Playlist” for so many more!   FYI… there are more videos on the YouTube Channel, “Real Estate Made Crystal Clear” ahead of what is presented in this Newsletter.     Click to Watch More Videos

Time Frames to Negotiate a Low Appraisal – Conv Loan – GAR Contract

Time Frames to Negotiate a Low Appraisal – Conv Loan – GAR Contract How to negotiate a low appraisal on a Conventional Loan in the Georgia Association of REALTORS (GAR) contract. What is the process? What are the time frames? May a Buyer simply terminate the contract? What happens to the Earnest Money? Watch the video to find out!   :00 Introduction 0:46 Georgia Association of REALTORS (GAR) F404 – Conventional Loan Contingency Exhibit 1:13 Confusion over the Time Frames & Termination Rights and Protection of Buyer’s EM 02:03 Paragraph 11 – Appraisal Contingency 02:33 May a Buyer Pay More Than Appraisal Value 03:25 What is the Fill In The Blank Negotiated Time Frame 03:54 GAR F713 Amendment to the Sale Price 04:33 All the Other Time Frames Regarding the Appraisal Contingency 06:00 When May the Buyer Actually Terminate & Protect the Earnest Money 06:33 When Does Buyer Waive the Appraisal Contingency Protection 07:04 Negotiated Time Frame – What it Really means 07:20 Points of Practice for Real Estate Agents 07:38 What About Other Contracts 07:56 What if Buyer is Getting FHA or VA Insured Loan   Please browse “Videos” or “Playlist” for so many more!   FYI… there are more videos on the YouTube Channel, “Real Estate Made Crystal Clear” ahead of what is presented in this Newsletter.     Click to Watch More Videos

Do Exhibits Need to Be Signed? Attached?

In a real estate contract do Exhibits need to be signed? attached? initialed? What happens if an Exhibit IS signed but not referenced in the Purchase & Sale Agreement… is it part of the contract? Is there a difference between the Georgia Association of REALTORS (GAR) contract and the RE Forms (or FMLS Forms) contract? Watch the video to find out!

00:00 Introduction

00:29 The Contract as Instructions

01:20 Georgia Association of REALTORS (GAR) Purchase & Sale Agreement – Paragraph C8

02:25 RE Forms Contract for Purchase & Sale – Paragraph 9

03:07 RE Forms Contingencies in the Purchase & Sale Contract

03:47 RE Forms Standard Terms – Additional Verbiage

04:17 What Does All of This Mean?

05:04 Point of Practice for Customer Service

05:32 GAR Counter Offer Form

07:09 GAR Contract Package – What to Do/What This Means

07:32 RE Forms Contract Package – What to Do/What This Means

08:33 GAR – What if an Exhibit is included but not referenced?

09:47 Bottom Line

Please browse “Videos” or “Playlist” for so many more!

FYI… there are more videos on the YouTube Channel, “Real Estate Made Crystal Clear” ahead of what is presented in this Newsletter.

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What Is a “Day” In a Real Estate Contract?

What is a “Day” in a real estate contract? Do weekends count? Is Saturday considered a Banking Day? Do times in a contract matter? Watch the video to find out!   The Red Book on Real Estate Contracts in Georgia https://www.weissman.law/resources/th….   Click below to go directly to the timed section of the video covering that topic.   0:00 Introduction 00:30 Where to go whenever you have a contract question 01:34 GAR & RE Forms Contract – What is a Day 01:50 Binding Agreement Date 02:18 Example 03:26 Banking Day & Business Day 03:49 What about Saturday 05:04 Georgia Association of Realtors (GAR) Contract 06:19 RE Forms Contracts 07:46 Where is definition of a “Day” 08:26 Information specifically in the state of Georgia 08:40 Resource for Real Estate Agents in Georgia 11:17 Georgia Law defines Banking Day & Business Day & Legal Holiday 12:54 Read what is in the Contract 13:13 When are TIMES important in a contract 13:51 Bottom Line… 14:35 Reference to related videos – see links below   Referenced Videos: * “Contract Tip – How to Count Days in a Real Estate Contract” – https://youtu.be/tx-3Rn5z3fo * “Contract Time Frames – Don’t Let a Seller Terminate by Default” – https://youtu.be/SSnYomh9618 * “What if Closing Falls on a Weekend?” – https://youtu.be/fbjIMbrO28c   Please browse “Videos” or “Playlist” for so many more!   FYI… there are more videos on the YouTube Channel, “Real Estate Made Crystal Clear” ahead of what is presented in this Newsletter.     Click to Watch More Videos