Is it Wise to Waive the Appraisal Contingency?

Is it wise for buyers to waive the appraisal contingency? Appraisals continue to cause agita among many in the home buying process. Is the answer to eliminate it? Current offers reflect the “current” market (listings/pendings) while appraisals reflect the “past” market (solds). This is an inherent conflict especially in a transitional market. When inventory is tight and seller markets exist, the "cleanest" contracts get the most attention. Cash buyers can obviously waive the appraisal contingency completely. Buyers with mortgages must have an appraisal, but there are ways to ease a seller's mind even when an appraisal is required.

Waiving the appraisal contingency is done to present a more streamlined and competitive offer. Completely eliminating the…

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The Problems with Stucco Homes

The problems with stucco homes couldn't be better demonstrated than with this real world listing. This is "hardcoat" stucco; not EFIS (synthetic) which has the universal bad rap. As with any siding, but especially stucco; moisture, mold and termites are just waiting for a chance; and that is evidenced here. Many agents have no idea about the potential disaster behind those walls, every stucco home should have a dedicated stucco inspection

It starts where is almost always does - control of surface water. Water MUST be moved out and away from every home, having a downspout empty onto a slab under the deck that sags toward the stucco home...not good. Being in a bowl and the low point of the lot or community, not good. Water always wins and water is…

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When a Buyer or Seller Defaults on a Real Estate Contract

What happens when a buyer or seller defaults on a real estate contract? Well in Georgia as of 8/1/2018, the earnest money (good faith money, deposit...) will be of great interest as the ability for the parties to sue is limited. Our friends at Campbell and Brannon, Attorneys at Law provide this concise overview.

When a Buyer Defaults on a Real Estate Contract

In the event this Agreement fails to close due to the default of Buyer, Seller’s sole remedy shall be to retain the earnest money as full liquidated damages. Seller expressly waives any right to assert a claim for specific performance. The parties expressly agree that the earnest money is a reasonable pre-estimate of Seller’s actual damages, which damages the parties agree are difficult to…

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Should You Buy a Stucco Home?

Should you buy a stucco home in Atlanta? A better question might be should you buy a home clad with synthetic stucco or EIFS (Exterior Insulated Finish System)?  This cladding was very popular around Atlanta during the 80’s to early 00’s because of the ease and low cost to install. The foam board installed behind the stucco provides added insulation and the product is very easy for architects to use in design.  Synthetic stucco was meant to be a barrier system that kept water out, but poor installation (mainly flashing issues) can allow water to penetrate and remain unable to escape. Over time, the trapped moisture will eventually eat away sheathing, structural framing, and even interior finishes. Mold, fungal growth and rot are common. Termites are a…

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