What Every Homebuyer Needs to Know Before Signing a Contract When buying a home, one of the most important protections for a buyer is the bank appraisal contingency . This clause safeguards you if the home’s appraised value comes in lower than the agreed-upon contract price. Why does this matter? Because lenders base the loan amount on the lower of the contract price or the appraised value not the higher number. What Is a Bank Appraisal Contingency? A

When purchasing a home with a mortgage, there’s one important cost you’ll encounter at closing that often catches buyers off guard the Mortgage Recording Fee . This fee covers the cost of officially recording your mortgage with the county , ensuring your lender’s lien on the property is properly documented in public records. It’s based on your loan amount , not  the total purchase price. 🏛️ What’s Included in Mortgage Recording Fees These are gove