Brayko Blogs

Waiving a home appraisal

I sold a home a few weeks ago to a young couple looking to invest in a second home, a cottage, to take advantage of Michigan's beautiful summers. The lender was slow in finding an appraiser to accept the request.  Once the request was accepted, the lender called me to let me know that the underwriter waived the appraisal.   While this is great news and will move the file along more quickly, the question is, is this such a good idea for the buyer? In this fast-paced market many contracts will state that the buyer will make up any deficiency if the appraisal comes in lower than the selling price.   But on the othe hand, the buyer is truly curious how the house will appraise.  If the buyer decides they want to proceed with the appraisal, then if it does comes in lower that the sales price,  they will have to reach into their savings and pay the difference. In this case, we really did our homework when initially placing our initial offer.  We reviewed all the sales, calculated pluses and minuses of each property, and arrived at a price they
are comfortable with and within fair market value.  We are good for this transaction because the initial asking price  was under market value.    But each case is different and should be looked at separately to determine the risk factor and if the purchase is a good investment.   

Happy Earth Day!

The theme for this years Earth Day is to "Restore our Earth".  This focuses on natural processes and emerging green technologies that can restore the world's ecosystems.  
Let's all plant a seed today for a brighter future.  And if you're renting or living in an apartment  and dream of a place where you can create you gardens and plant trees, I can help you get into a home with little money down.  There are many programs out there today for first home buyers to help out with your expenses.  Be well and think green:)



Spring fever is here!  If you're like me, I'm starting to sweep out all the mud and salt out of the garage, getting things organized, opening the windows to let fresh air in, and thinking about a move myself.  Many homeowners feel the need to wait until the flowers bloom, leaves are on the trees and a feel of a warm breeze on their face before they put their home up for sale.  RIGHT NOW, though, there is little inventory on the market.  The benefits can lead to a quicker sale, and more money now, then if you wait until May.  Just think, you can sell you house now and be ready for the influx of homes bound to hit the market for you to choose from in a few months.   Give me a call if you've had a thought about moving this year, and we can look at options to see if this is a good choice for you.  As always, your inquiry is confidential.  



This is good news!  Finally, it looks like there is relief on its way for creditors reporting medical bills, which can be a thorn in anyone's side who has had major surgery...check out below!

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