has it appraised for less than your offer .... and won't give you a mortgage to cover the amount. You have a shortage. Are you still obligated to go thru with the purchase ???
2007-12-14 11:53:00 · 3 answers · asked by burlingtony 2 in Business & Finance ➔ Other - Business & Finance
Depends...
The seller typically will not want to lose the contract...either you can pay out of pocket (which if you have a good realtor, they will not let that happen) or the sellers faces the fact that they have to lower the sales price. If it won't appraise with your appraiser, it likely would encounter the same problem with another contract....
Shoot me an email if I can help...Amy.Arey@rolandrealtydfw.com
2007-12-14 12:33:46 · answer #1 · answered by Amy A 1 · 0⤊ 0⤋
when you make a bid on a house make sure it has a contingency cause in it that says only if you get the loan and for the amount your offering or there is no deal. also if the loan company says the house is worth less then your offer, then you can always come up with the cash for the difference.
2007-12-14 12:01:26 · answer #2 · answered by george 2 6 · 0⤊ 0⤋
No. this could be an element of your 17 days of due diligence. If the valuables is now below what the asking cost for the home is. you could now resend your furnish to examine that of the appraised quantity.
2016-11-03 07:32:43 · answer #3 · answered by ? 4 · 0⤊ 0⤋