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Real Estate Agents questions, answered by experts

Yes. If the seller includes a kick-out clause in the contract, they can accept another offer while contingent.

If a home's appraised value comes in lower than the offer price, it can create complications with financing. Lenders typically won't issue a loan for more than the property's market value, as this can push the loan-to-value (LTV) ratio too high and may prevent the loan from being approved. Your options depend on whether your purchase agreement includes an appraisal contingency. If there is no contingency, both parties may be locked into the deal, meaning the buyer pays more than the appraised value. If a contingency exists, the buyer can usually renegotiate the price or withdraw from the deal. If a buyer still wishes to proceed, they can try to negotiate a lower price, increase their down payment to cover the difference, or get a second appraisal.

Yes, landscaping costs are generally a worthwhile investment that can increase your property value. Landscaping can boost your home's value by up to 30% by improving its curb appeal, which can help it sell faster and for a higher price. Specific projects have a high return on investment (ROI); for example, revamping a front walkway can offer a 100% ROI, while a pristine, well-manicured lawn can deliver an impressive 217% ROI. In addition to the financial returns, you also get to enjoy the improvements, especially with features like an outdoor living area.

Basement bedrooms can count toward your room count and the square footage of your home on an appraisal if they’re fully legal, which means they have proper ventilation and points of egress, as defined by your local building code. Simply partitioning off a space for a bedroom in an otherwise unfinished basement that isn’t a legal living space won’t affect your appraisal value.

Yes, gas fireplaces can increase your home's value by as much as 12%. They are a sought-after feature because they burn cleaner, provide more warmth, and are more convenient than wood-burning fireplaces. Modern gas inserts can also provide the traditional aesthetic appeal that buyers like. To ensure the highest return on investment, perform regular maintenance and schedule annual professional inspections.

The Dixon, NM homeowners’ guide to real estate services

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