Appraisal came in $5k short, run or stay?

[briansd1]

It’s only $5000 and an REO.

I think that if you walk, the bank will come down. They want it sold just as much as you want to buy.

And the Realtor wants to complete the transaction too. Everything is lined up for you to buy now.

If I were you, I’d stand firm.

But of course, it all depends how much you the condo. I have a feeling that if you stand firm, you’ll get a lower price.

[SD Realtor]

You mean Creekwood at River Run.

[SD Realtor]

You mean Creekwood at River Run.

[SD Realtor]

You mean Creekwood at River Run.

[SD Realtor]

You mean Creekwood at River Run.

[SD Realtor]

You mean Creekwood at River Run.

[4plexowner]

it’s a condo in a river bed with an underfunded HOA – not a place where I would sink (pun intended) my money – but that’s just me

[4plexowner]

it’s a condo in a river bed with an underfunded HOA – not a place where I would sink (pun intended) my money – but that’s just me

[4plexowner]

it’s a condo in a river bed with an underfunded HOA – not a place where I would sink (pun intended) my money – but that’s just me

[4plexowner]

it’s a condo in a river bed with an underfunded HOA – not a place where I would sink (pun intended) my money – but that’s just me

[4plexowner]

it’s a condo in a river bed with an underfunded HOA – not a place where I would sink (pun intended) my money – but that’s just me

[HLS]

If you are expecting to get a loan and a condo cert is required and one hasn’t been approved by an underwriter, you are wasting your time even thinking about buying the place.

Many people qualify as borrowers but the condo complex doesn’t qualify. There are various reasons for this, and it doesn’t matter how high your credit score is or how much you are putting down or how much money you make.

Even an 800 credit score wanting to put 75% down can’t get financing on some condos.

If you are going to pay cash, you can buy whatever you want.
Expect to pay $50 to $100 to get a cert filled out by the mgmt company, and around $400 for an appraisal. You can also be charged $100-$200 to have the lender named as add’l insured on the master policy.

[HLS]

If you are expecting to get a loan and a condo cert is required and one hasn’t been approved by an underwriter, you are wasting your time even thinking about buying the place.

Many people qualify as borrowers but the condo complex doesn’t qualify. There are various reasons for this, and it doesn’t matter how high your credit score is or how much you are putting down or how much money you make.

Even an 800 credit score wanting to put 75% down can’t get financing on some condos.

If you are going to pay cash, you can buy whatever you want.
Expect to pay $50 to $100 to get a cert filled out by the mgmt company, and around $400 for an appraisal. You can also be charged $100-$200 to have the lender named as add’l insured on the master policy.

[HLS]

If you are expecting to get a loan and a condo cert is required and one hasn’t been approved by an underwriter, you are wasting your time even thinking about buying the place.

Many people qualify as borrowers but the condo complex doesn’t qualify. There are various reasons for this, and it doesn’t matter how high your credit score is or how much you are putting down or how much money you make.

Even an 800 credit score wanting to put 75% down can’t get financing on some condos.

If you are going to pay cash, you can buy whatever you want.
Expect to pay $50 to $100 to get a cert filled out by the mgmt company, and around $400 for an appraisal. You can also be charged $100-$200 to have the lender named as add’l insured on the master policy.

[HLS]

If you are expecting to get a loan and a condo cert is required and one hasn’t been approved by an underwriter, you are wasting your time even thinking about buying the place.

Many people qualify as borrowers but the condo complex doesn’t qualify. There are various reasons for this, and it doesn’t matter how high your credit score is or how much you are putting down or how much money you make.

Even an 800 credit score wanting to put 75% down can’t get financing on some condos.

If you are going to pay cash, you can buy whatever you want.
Expect to pay $50 to $100 to get a cert filled out by the mgmt company, and around $400 for an appraisal. You can also be charged $100-$200 to have the lender named as add’l insured on the master policy.

[Author]

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