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Este formulario se utiliza cuando el Comprador hará la diferencia en el valor tasado y el Precio de Compra del contrato, SI existe después de completar la tasación.
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How to fill out minimum appraised value contingency

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How to fill out minimum appraised value contingency

01
Review the purchase agreement to locate the minimum appraised value contingency clause.
02
Determine the minimum appraised value you want to set for the property.
03
Consult with your realtor or attorney for appropriate wording for the contingency.
04
Fill out the contingency section by specifying the minimum appraised value.
05
Ensure all parties involved in the contract sign and date the updated agreement.
06
Keep a copy of the finalized contract for your records.

Who needs minimum appraised value contingency?

01
Homebuyers looking to protect themselves from overpaying for a property.
02
Investors who want to ensure the property meets a certain value before proceeding with the purchase.
03
Individuals in fluctuating real estate markets where appraised values may differ significantly.
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Minimum appraised value contingency is a clause in a real estate contract that allows the buyer to back out of the purchase if the property is appraised at a value lower than a specified amount.
Typically, the buyer is required to file the minimum appraised value contingency to protect themselves from purchasing a property that is overvalued.
To fill out a minimum appraised value contingency, the buyer must specify the minimum appraised value they are willing to accept, along with any relevant terms and conditions in the purchase agreement.
The purpose of the minimum appraised value contingency is to ensure that the buyer is not obligated to go through with the purchase if the property's appraised value does not meet their expectations.
The minimum appraised value contingency must report the agreed minimum appraised value, the date by which the appraisal must be completed, and any other conditions regarding the appraisal process.
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