My husband and I are under contract on a home in Omaha.

I have read that you need a contract in place first before they can consider you for a loan is this true?

My PM has a no smoking/no vaping clause in her contract, and he (tenant) wants the vaping part removed.  

He said signing a contract wasn't necessary, but did give us a cost estimate after reviewing a set of house plans.

The same units are selling if you find a listing at about $200k and go under contract within a week of listing. 

If you buy/sell enough properties you'll find that the appraisal typically comes in very close to the contracted purchase price.

This will preserve the value for mortgage purposes because the bank will grant loans based on the value of the contract, even if the contract is way below appraisal.

One that is familiar and comfortable with Double EscrowsAssignmentsWraps (sub2's, Contract for deed)Thanks in advance,Newbie Investor

If not, then I doubt the seller will be willing to give too much based on the fact he/she knew it was old and probably took that into account with their list price and ultimate contract price.

You just simply sell the contract.