Hi, I'm thinking about making an offer on a FSBO property. However, I'd like an appraisel done so I can be certain the home is worth what I offer. Can I make my offer contingent on the home appraising for a certain percentage more than I offered? What percentage is fair?
2006-07-16 02:07:33 · 5 answers · asked by Elizabeth S 2 in Business & Finance ➔ Renting & Real Estate
You can make it contingent on the home appraising for the selling price. Absolutely! But a certain percentage over? Why would the seller want to do that? Why wouldn't he then ask for that price?
Just because it's a FSBO doesn't mean the seller doesn't know what they're doing or wouldn't have a knowledgable person in their corner.
2006-07-16 02:45:51 · answer #1 · answered by Christine 3 · 0⤊ 0⤋
There are no rules, you can make an offer contingent to your dog's approval. It's smart to make an offer contingent to apprasial, home inspection not needing over x amount of repair and financing terms.
What's fair is what you think is fair. My idea of fair will be different than yours or the seller's.
Regards
2006-07-16 16:12:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
very confusing question but you can make the offer contingent on a number of things such as an appraisal, financing for you, pest inspection and good title to the ground. without an ap[praisal you wont get financing anyway.
2006-07-16 02:44:33 · answer #3 · answered by titanbooboo 3 · 0⤊ 0⤋
You write an appraisal contingency that specifies what you would like it to appraise for. GOOD LUCK trying to get someone to agree to one that specifies what you are asking. But since they don't have any RE experience you may be able to pull one over on them.
I would advise getting an agent, but you probably are biased against them, just do your homework!!!!
2006-07-16 05:27:37 · answer #4 · answered by BigDaddy 4 · 0⤊ 0⤋
If you are paying for the appraisal there is nothing that says you have to give it to the seller. It is yours to keep for your reference. Certainly, if you get it low balled then you can go back to the seller and renegotiate or back out of the deal.
2006-07-16 08:08:07 · answer #5 · answered by Sam B 4 · 0⤊ 0⤋