Why Can’t I Pick My Home Appraiser?

Reader Question: We have not purchased a home for fifteen years. A lender is telling me I cannot pick an appraiser I know to be a solid appraiser, and that the lending rules have changed. Is this true? And if it is true, why did the rules change? Jerry G. Monty’s Answer: The simple answer…
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Can A Home Seller Have Two Prices?

Reader Question: I showed a home to my client eight months ago. The price at that time was $1,200,000. The current price of the property is $624,900. The listing broker told me that because my client looked at the higher price, they still must pay the original price even though the price has dropped dramatically.…
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Seven Tips For Buying In Overheated Market

Reader Question: We live in an overheated market. Home sellers are receiving multiple offers very quickly after listing and sell for more than the list price. We want to buy a home here, but we are reluctant to jump in and end up overpaying. What, if anything, can we do to avoid this situation? John…
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Ten Facts Mortgage Shoppers Should Know

  Reader Question: How can I compare the cost of financing from different lenders? Monty’s Answer: Comparing the cost of mortgage loans is a challenge for most consumers. Even when you think you have the answer, new information appears, and you are back to square one. Here are ten facts to help you lock-in the…
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Real Estate Agent Bullies Buyer To Use Lender

Reader Question: My offer was accepted, and I was thrilled. Before making the offer, my agent had instructed me to obtain a pre-approval letter and recommended I use a particular loan officer. I went ahead and did so after confirming with the loan officer that doing so wouldn’t lock me into using his services. I…
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