My realtor is going to ask the bank to lower the price (REO house). What is the chance they will lower the price? What if they refuse?
Weird thing is that the appraisal came in exactly what we offered initially. After some negotiations, the bank asked us to counter at $9K higher and they would give us $10k closing cost. I like the house so I accepted the deal eventhough my wife didn’t like it because she argued that we would pay more in taxes.
Do you think they might lower the price but take away the closing cost cash? Can we play hardball and tell them that we are ready to walk?
You kind of have to play hardball.
If your lender decides its not worth what you are paying, they can rescind your loan (though, without further info I don’t know if that is really in the cards).
Either way, that appraisal now becomes part of the minimum disclosures for the bank to give to any buyer.
Ergo, you will probably get it for the lower amount.
If you don’t end up paying 9 less, someone else will.
Some banks still try to play hardball on this (as this seller may).
You kind of have to play hardball.
If your lender decides its not worth what you are paying, they can rescind your loan (though, without further info I don’t know if that is really in the cards).
Either way, that appraisal now becomes part of the minimum disclosures for the bank to give to any buyer.
Ergo, you will probably get it for the lower amount.
If you don’t end up paying 9 less, someone else will.
Some banks still try to play hardball on this (as this seller may).
You kind of have to play hardball.
If your lender decides its not worth what you are paying, they can rescind your loan (though, without further info I don’t know if that is really in the cards).
Either way, that appraisal now becomes part of the minimum disclosures for the bank to give to any buyer.
Ergo, you will probably get it for the lower amount.
If you don’t end up paying 9 less, someone else will.
Some banks still try to play hardball on this (as this seller may).
You kind of have to play hardball.
If your lender decides its not worth what you are paying, they can rescind your loan (though, without further info I don’t know if that is really in the cards).
Either way, that appraisal now becomes part of the minimum disclosures for the bank to give to any buyer.
Ergo, you will probably get it for the lower amount.
If you don’t end up paying 9 less, someone else will.
Some banks still try to play hardball on this (as this seller may).
You kind of have to play hardball.
If your lender decides its not worth what you are paying, they can rescind your loan (though, without further info I don’t know if that is really in the cards).
Either way, that appraisal now becomes part of the minimum disclosures for the bank to give to any buyer.
Ergo, you will probably get it for the lower amount.
If you don’t end up paying 9 less, someone else will.
Some banks still try to play hardball on this (as this seller may).
.
