I’m in the process of purchasing a house. The home was the model for the development and I’m purchasing it with all furniture and decorative knick-knacks included. It’s an FHA loan and it was appraised right at the price I’m purchasing it for, a price which includes the $10K+ of furniture, appliances and other stuff in the house.
The loan was about to fund, but now the bank will not fund it until the builder has me sign something that says that the purchase price does not include the furniture (although I’m assured I will receive the furniture still…for free, or as an incentive or whatever).
Before I sign it, I’m wondering how this change affects the home having appraised at the selling price? The mortgage guy at Wells Fargo assured me that furniture and appliances are never included in appraisals, since a purchaser can just walk off with those if they can’t pay the mortgage. Anyone know if that’s accurate? Or should I be concerned about this?
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