When an appraisal comes in below the agreed price, lenders will only finance up to the appraised value — creating what’s known as an appraisal gap. You can either renegotiate with the seller, increase your down payment to cover the gap, or, in some cases, challenge the appraisal with supporting evid

A home inspection is a professional evaluation of a property’s condition, covering structure, systems, and safety. It helps buyers identify potential issues before finalizing the purchase. Even newer homes can have hidden defects, so skipping an inspection is never advisable. In my experience, a tho

Earnest money is a deposit you make when submitting an offer to show the seller that you’re serious about buying. It’s typically 1–3% of the purchase price, held in escrow until closing. If the deal goes through, it’s applied toward your down payment or closing costs. In my experience, earnest money