Iris   LaBouchardiere

Iris LaBouchardiere

REALTOR®

License #: 616260

NextHome Realty Center

Mobile:
713-256-8941
Office:
281-213-6200
Email Me
Iris   LaBouchardiere

Iris LaBouchardiere

REALTOR®

License #: 616260

NextHome Realty Center

Mobile:
713-256-8941
Office:
281-213-6200
Email Me

Appraisal Contingency

 

Here's why this is term is so relevant right now:

Typically, if you're buying a home with financing we submit a standard appraisal contingency with your offer. If you agree to buy a property for more than what it appraises for, you'll have a more difficult time getting a mortgage unless you can renegotiate a new sales price. With a contingency, you can walk away from the deal with your earnest money deposit if the appraisal comes in too low.

In today's hot market, buyers are bidding big to win multiple offer situations and in some cases, waiving the appraisal contingency. For a seller, they want as few contingencies as possible so that there is less risk of a deal falling through. As a buyer, this is a risky move. Let's say you agree to buy a home for $250,000 and the appraisal comes in at $230,000. The lender is not likely to give you a loan to pay $250,000, so you'd have to pay the difference in order to get to the closing table.

​Because the appraisal contingency exists to protect you as the buyer, it is not something we should do lightly and only in the event if it's very unlikely for the appraisal to come in low. Even in that case, you'll definitely want to be sure you have some extra savings on hand in case you need to bring more money to the table in order to see a deal through.

Iris LaBouchardiere,REALTOR®
ABR, CNE, SRS, NHC, ASP

LICENSE #0616260
RE/MAX COMPASS

valign=middle Iris@HomesWithIris.com
valign=middle 713.256.8941valign=middlevalign=middle 281-433-3300
valign=middle 10242 Greenhouse Rd, Bldg 1001, Cypress, TX 77433
valign=middle www.HomesWithIris.com

713-256-8941

  

281-213-6200

  

Iris LaBouchardiere, Realtor® at NextHome Realty Center, began her career as a licensed Realtor in South Carolina in 2004. She relocated to Cypress, Texas in 2006 and has been a licensed Realtor in Texas since 2011. She is also an Accredited Staging Professional.
Iris specializes in Northwest Houston communities, including Cypress, Katy, Tomball, and Spring. She also works with buyers and sellers in the Medical Center, The Heights and Spring Branch.
Iris has professional experience in the title industry and as a new home sales counselor where she gained valuable insight into the process of buying or selling a home. She brings the knowledge gained from these positions into every transaction. From contract to closing whether you're building new, buying a resale or selling your home, she'll make the experience seamless for you!
Iris will help you find a lender, narrow down a good location for your family, and negotiate on your behalf. If you're building new, Iris will even go with you to the design center! She is here to answer any questions you may have, and guide you through every step of the process, whether you are selling your current home or buying your dream home! Her goal is to help you achieve your real estate goals!



License #: 616260

Specialty: First Time Buyers, Relocation, Move Up, Sellers, New Home Construction, Down Sizing, Accredited Staging Professional

Awards: Re/Max Executive Club 2015/ 2016, NextHome Award of Distinction 2019, Named Top a 15 Realtor in Spring Texas by Choice Home Warranty in 2015

Area Covered: Cypress, Katy, Tomball, Spring, The Woodlands and the surrounding NW Houston area.