Is the Rumor True About the Appraisal Gap Stipulation?

I heard that a Buyer getting an FHA or VA Loan can’t use the “appraisal gap” stipulation… is that true? What if it’s in their contract? Watch the video to find out! Make sure to watch to the end for a BONUS Contract TIP!

00:00 – Introduction

00:36 – What is an “FHA” or “VA” Loan?

01:18 – Federal Regulation – Amendatory Clause

02:12 – What is an “Appraisal Gap” Stipulation?

03:56 – What is relationship between Amendatory Clause & Appraisal Gap Stip

05:03 – What Does this have to do with Appraisal?

06:37 – What are the Time Frames

07:27 – I thought a Special Stip supersedes an Exhibit

08:52– 2022 Georgia Association of Realtors (GAR) Purchase & Sale Agreement

10:47 – Point of Practice for Listing Agents

12:43 – BONUS TIP!

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Interest Rates on the Rise… How to Address That in a Contract!

When negotiating a contract for a Buyer, how do you address the fact of increasing interest rates? What happens if a Buyer goes under contract with a Builder to build a new house but when the house is ready several months later, the mortgage rates are too high? What happens if when the house closes, the interest rate for the mortgage increases to one that the Buyer can’t qualify for or doesn’t want? What should a Seller look for in a Loan Denial Letter to make sure that the Buyer is terminating based on their right to do so & protect their Earnest Money? Are there any special stipulations I should consider? Watch the video to find out!

00:00 – Introduction

01:34 – Mortgage Rates – January 2022

01:47 – Interest Rates March 2022

02:30 – Rapidly Changing Mortgage Interest Rates – Check with Lender

02:52 – Impact of Increasing Rates on Real Estate

03:07 – Contact Past Clients about Refinancing

03:40 – Equity Line of Credit

03:58 – Get Buyers Off the Fence

04:24 – Get Sellers Off the Fence

04:58 – What About New Construction?

05:49 – Two Parts to a Buyer’s Qualification at a Particular Rate

06:43 – How to Protect a Buyer Contractually

07:39 – Seller’s Agent Considerations

08:08 – Must Look at Financing Terms in Contract

09:00 – License Law in Georgia Regarding Financing

09:41 – Check the Loan Denial Letter

10:56 – Buyer’s Agent Considerations

11:22 – Special Stipulation

13:03 – Additional Considerations for the Special Stipulation

14:50 – Summary

15:11 – Nami

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May You Share Others’ Listings on Your Social Media?

May a Real Estate Agent share another Broker’s Listings on their Social Media? What if they have an IDX Agreement or a VOW? How do these companies like kvCore or Inside Real Estate or Chime do it? Watch the video to find out the answers to these questions & more!

00:00 – Introduction

00:52 – Georgia License Law

01:34 – What About IDX or VOW?

01:48 – IDX

03:07 – VOW

03:55 – Social Media Sites are Not IDX-Compliant

05:32 – What About the Lead Generating Websites pushing to My Social Media

06:18 – MLS Services Have Different IDX Agreements

06:59 – But how do these Real Estate Website Companies do it?

07:19 – Beware of Copyright Violation

07:46 – Summary

09:04 – Bottom Line

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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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All About Option Money for a Due Diligence Period

All About Option Money for a Due Diligence Period All about Option Money for a Due Diligence Period for real estate contracts in Georgia! What is a Due Diligence Period? What is Option Money or “Additional” Option Money for a Due Diligence Period? Is this the same as Earnest Money? Does a Buyer have to pay it? Watch the video to find out the answers to these questions & more! Comment below on effective use of Additional Option Money for a Due Diligence Period in a competitive real estate market!   00:00 – Introduction 00:53 – GAR Purchase & Sale Agreement paragraph A8 & B8 01:20 – Option Payment for Due Diligence Period vs. Earnest Money 01:50 – What is a Due Diligence Period? 03:03 – What is “Consideration” 03:45 – What about “Additional Option Money?” 07:39 – RE Contract Forms in Georgia – “Buyer’s Right to Terminate” Period 08:13 – Option Money for Due Diligence Period is NOT the Same as Money for an Option Agreement 09:28 – Why Would a Buyer Offer a Seller Non-Refundable Option Money for a Due Diligence Period? 10:25 – From a Seller’s Perspective 10:55 – What if a Buyer NEVER pays the Seller this Additional Money? 11:46 – Special Stipulation by Amee Davis of Davis & Associates 13:36 – Conclusion   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