🌟 Unlock the Secrets of Form 22AA in Real Estate - Appraisal Addendum Mastery! 🌟
In this indispensable tutorial, Sean Reynolds, a seasoned real estate agent and appraiser with over 35 years of experience, dives deep into Form 22AA – the appraisal addendum to the purchase and sale agreement. Learn how this form allows buyers to make offers contingent on property appraisal, but not on financing, and its critical differences from the financing addendum.
📑 Form 22AA, similar to paragraph 7 in the financing addendum, is crucial when the appraisal is less than the sales price. This tutorial explains the step-by-step process of handling low appraisals, including seller and buyer negotiations, and addressing appraisal work orders. Sean stresses the importance of understanding this form to provide confident guidance to your clients, especially in cases not conditioned on financing.
🏡 As a real estate agent in Washington, you need to know when to use Form 22AA versus Form 22A. This video equips you with the knowledge to make informed decisions and explains how to fill in the crucial sections of the form. Plus, learn how joining Summit Properties NW offers incredible benefits like an 80/20 split with no monthly fees, a $116,000 cap, and valuable support from Sean's extensive appraisal expertise.
🔍 Want to enhance your real estate career in Seattle and beyond? Consider joining Summit Properties NW! Our unique approach and generous commission structure, coupled with expert guidance, make us an ideal choice for ambitious agents. Visit SummitPropertiesNW.com for more details!
Disclaimer: This content is for educational purposes only and is not intended as legal advice. Always consult with a legal professional for specific advice.
#SeattleRealEstate #NWMLSForms #RealEstateAgentTraining
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00:00 - Introduction to Form 22AA: Appraisal Addendum Overview
02:00 - Understanding the Use of Form 22AA for Appraisal Contingency
04:00 - Explaining the Low Appraisal Process and Seller's Options
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