[quote=CA renter][quote=flu][quote=CA renter]If the appraisal came in low, use it to your advantage. Tell the seller than you can only pay the appraised amount. See if they reduce it all the way, or part of the way.
Good luck![/quote]
In this market? ha ha ha ha. If I were the seller, I’d say… See ya, next buyer.[/quote]
Sure, if there are cash buyers or buyers with extra cash over the 20% who are willing to pay an inflated price. I’d still take my chances as a buyer to negotiate. IIRC, if they show the appraisal to the listing agent/seller, it’s supposed to be included as part of the disclosure package. SDR, please correct me if I’m wrong on this.[/quote]
With the way lending requirements are these days, provided the person can qualify for the loan, I’d take the one(s) that gave me the higher offer, who had more than 20% down, but I wouldn’t require them to pay 100% cash, especially if the house is over $1million. I think it would depend on how much activity there is in that area. If there has been many sales nearby of comparable, then the that might be a red flag. But if the sales history in that area has been spotty, and especially if the appraiser isn’t from san diego, that might have a lot to do with it. I don’t follow what you said about “the 20% who are willing to pay an inflated price”. I’m not sure where you got 20% from. And as far as inflated price. One can determine if the price is inflated if there is a reasonable comparable.
