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🏡 What Is a Rate Buy-Down in NH Real Estate? With interest rates fluctuating, many New Hampshire homebuyers are turning to rate buy-downs to make their monthly mortgage payments more affordable. A buy-down can temporarily or permanently lower the buyer’s interest rate — creating immediate savings. Here’s how rate buy-downs work in NH real estate. ⭐ What Is a Rate Buy-Down? A rate buy-down is when the buyer (or sometimes the seller) pays an upfront fee to the lender to reduce

🏡 What Is a Purchase and Sale (P&S) Extension Addendum in NH Real Estate? In New Hampshire real estate, not every transaction stays perfectly on schedule. Financing delays, appraisal issues, title work, inspections, and lender backlogs can all affect the original timeline. When this happens, buyers and sellers use a Purchase and Sale Extension Addendum to officially extend a deadline in the Purchase & Sale Agreement (P&S). Here’s how P&S extension addendums work in NH. ⭐ Wha

🏡 What Is a Mortgage Commitment Letter in NH Real Estate? Once a buyer has gone through underwriting and submitted all required documents, the lender issues a Mortgage Commitment Letter — one of the most important approvals in a New Hampshire real estate transaction. This letter signals that the buyer’s financing is on track and the lender is prepared to fund the loan, pending final conditions. Here’s what NH buyers and sellers need to know. ⭐ What Is a Mortgage Commitment L

🏡 What Is a Clear to Close (CTC) in NH Real Estate? One of the most exciting milestones in the New Hampshire homebuying process is receiving the Clear to Close, often called the CTC. This notification means the lender has completed underwriting, verified all documents, and officially approved the buyer’s mortgage. Once the CTC is issued, the buyer is only days away from receiving the keys. ⭐ What Does “Clear to Close” Mean? A Clear to Close means: ✔ The buyer’s loan is fully

🏡 What Is a Title Defect in NH Real Estate? Before any home closes in New Hampshire, a title company or attorney conducts a title search to ensure the property is legally transferable. If an issue is found that affects ownership, it’s called a title defect — and it must be resolved before the sale can move forward. Here’s what NH buyers and sellers should know. ⭐ What Is a Title Defect? A title defect, also known as a “cloud on title,” is a legal issue that challenges or que

🏡 What Is an Appraisal Reconsideration in NH Real Estate? A low appraisal can derail an entire real estate transaction — but in New Hampshire, buyers, agents, and lenders have the option to request an appraisal reconsideration. This process allows you to challenge the appraisal by submitting evidence that the value should be higher. Here’s how appraisal reconsiderations work in NH. ⭐ What Is an Appraisal Reconsideration? An appraisal reconsideration is a formal request askin

🏡 What Is a Closing Cost Credit in NH Real Estate? In New Hampshire real estate, a closing cost credit is one of the most common negotiating tools used to keep a transaction together. Instead of lowering the purchase price or completing repairs, the seller offers the buyer a credit applied directly toward closing costs. This strategy helps both sides reach the finish line — especially when interest rates, repair needs, or affordability concerns come into play. Here’s how clo

🏡 What Is a Seller Credit for Repairs in NH Real Estate? During a home inspection in New Hampshire, issues often come up — from roof wear to plumbing leaks to safety concerns. Instead of asking the seller to fix everything before closing, many NH buyers negotiate a seller credit for repairs. This credit can make the deal smoother, faster, and more flexible for both parties. Here’s how seller repair credits work in NH real estate. ⭐ What Is a Seller Credit for Repairs? A sell

🏡 What Is a Home Sale Contingency Addendum in NH Real Estate? For many New Hampshire buyers, purchasing a new home depends on successfully selling their current one. To protect them during this transition, NH real estate contracts often include a Home Sale Contingency Addendum. This addendum outlines the buyer’s obligation to sell their existing home before completing the new purchase — and explains what happens if that sale falls through. Here’s how it works in NH. ⭐ What I

🏡 What Is a Property Tax Proration in NH Real Estate? When buying or selling a home in New Hampshire, the closing process includes a financial adjustment called property tax proration. Because NH towns bill taxes on a specific schedule, the buyer and seller must split the tax responsibility based on who owned the home during the year. Here’s what NH buyers and sellers need to know. ⭐ What Is a Property Tax Proration? A property tax proration is a calculation that divides pro

🏡 What Is a Mortgage Underwriting Condition in NH Real Estate? When you apply for a mortgage in New Hampshire, your loan goes through a process called underwriting — where the lender verifies your finances, documents, and the property itself. During this stage, it’s common for the underwriter to issue conditions that must be satisfied before your loan can be fully approved. Here’s what NH buyers need to know. ⭐ What Are Underwriting Conditions? An underwriting condition is a

🏡 What Is a Seller Concession Credit in NH Real Estate? In New Hampshire real estate, a seller concession credit is money the seller agrees to contribute toward the buyer’s closing costs. With rising home prices and interest rates, these credits can make the difference between an affordable closing and a deal falling apart. Here’s how seller concessions work for NH buyers and sellers. ⭐ What Is a Seller Concession Credit? A seller concession credit is a negotiated amount the

🏡 What Is a Purchase Contract Addendum in NH Real Estate? During the homebuying process in New Hampshire, situations can change — and when they do, a contract addendum is often required to formally update the Purchase & Sales Agreement. Whether you’re buying or selling in Plymouth, Campton, Thornton, or anywhere in Central NH, understanding how addendums work helps keep your transaction legally clear and on track. ⭐ What Is an Addendum? A purchase contract addendum is a writ

🏡 What Is a Contingency Release in NH Real Estate? In New Hampshire real estate, contingencies protect buyers and sellers by giving them the ability to back out of a contract under certain conditions. But what happens when those conditions have been satisfied — or a buyer wants to move forward regardless? That’s when a contingency release comes into play. Here’s what NH homebuyers and sellers should know. ⭐ What Is a Contingency Release? A contingency release is a written ac

🏡 What Is a Buyer Agency Agreement in New Hampshire? If you’re looking to buy a home in Plymouth, Campton, Thornton, Rumney, or anywhere in Central NH, your real estate agent may ask you to sign a Buyer Agency Agreement. Here’s what it actually means — and why it protects you as a buyer. ⭐ What Is a Buyer Agency Agreement? A Buyer Agency Agreement is a written contract that officially creates an agent–client relationship between a homebuyer and a real estate professional. It

🏡 What Is Escrow in a New Hampshire Real Estate Transaction? If you’re buying or selling a home in Plymouth, Campton, Thornton, Rumney, or anywhere in Central NH, you’ll hear the term “escrow” come up early in the process. But what does it actually mean — and how does it protect you? Here’s a simple breakdown. ⭐ What Is Escrow? In New Hampshire real estate, escrow is a secure, third-party account used to hold money and documents during the transaction. Its purpose is to make

🏡 What Is a Title Defect in NH Real Estate? When buying a home in Plymouth, Campton, Rumney, Thornton, or anywhere in Central NH, the title search plays a critical role in determining whether a property can legally be transferred. A title defect is any problem with the property’s ownership record that can delay or even prevent closing. Because lenders require clear, marketable title, understanding title defects is essential for NH buyers. Here’s what you should know. ⭐ What

🏡 What Is a Restrictive Covenant in NH Real Estate? When buying a home or land in Plymouth, Campton, Thornton, Rumney, or anywhere across Central NH, you may come across rules called restrictive covenants. These covenants limit how a property can be used and are legally binding. They can affect building plans, land use, structures, and even lifestyle choices on the property. Understanding restrictive covenants is essential before closing. Here’s what NH buyers should know. ⭐

🏡 What Is a Private Road Agreement in NH Real Estate? Private roads are common in New Hampshire, especially across rural areas like Plymouth, Campton, Thornton, Rumney, Wentworth, and many parts of Central NH. Because these roads aren’t maintained by the town, buyers need to understand how maintenance, repairs, plowing, and long-term costs are handled. That’s where a private road agreement comes in — and most lenders require one. Here’s what NH buyers should know before purc

🏡 What Is Grandfathered Use in NH Real Estate? In towns like Plymouth, Campton, Thornton, Rumney, Ashland, and many areas across Central NH, you’ll often hear the term “grandfathered” when talking about older homes, additions, or land uses. Grandfathered use refers to property features or uses that were legal when created — but may not meet today’s zoning or building regulations. Because they were established before the rules changed, they are allowed to remain. Here’s what