Now the property I was trying to buy has been appraised much lower than the purchase price.
Seriously…why aren’t sellers having banks do these appraisals up front and setting more reasonable ask prices, thus saving everyone from hours if not days of wasted time??? The whole painful offer-counteroffer process becomes completely moot when the bank rolls in and values the home at less than even the initial offer.
Basically, the square footage of the house was found to 10% less than whats in the tax records and the owners have no idea…..
