Contingency period and how it works

[SD Realtor]

I would play it safe and extend the contingency in writing nonetheless. There is an extension of contingency form, you can identify both the loan and appraisal contingencies as needing to be extended for a few days. This will be signed off by both parties.

[rahul]

Many thanks for the responses so far. The issue with the price now is that, at least in NC-inland it seems to be declining market (in fact the appraisal has noted that in his report and he may have been more conservative because of that). So, what seemed like a decent deal a month back…may not seem so anymore because of many more price reductions in the past few weeks.

[rahul]

Many thanks for the responses so far. The issue with the price now is that, at least in NC-inland it seems to be declining market (in fact the appraisal has noted that in his report and he may have been more conservative because of that). So, what seemed like a decent deal a month back…may not seem so anymore because of many more price reductions in the past few weeks.

[rahul]

Many thanks for the responses so far. The issue with the price now is that, at least in NC-inland it seems to be declining market (in fact the appraisal has noted that in his report and he may have been more conservative because of that). So, what seemed like a decent deal a month back…may not seem so anymore because of many more price reductions in the past few weeks.

[rahul]

Many thanks for the responses so far. The issue with the price now is that, at least in NC-inland it seems to be declining market (in fact the appraisal has noted that in his report and he may have been more conservative because of that). So, what seemed like a decent deal a month back…may not seem so anymore because of many more price reductions in the past few weeks.

[rahul]

Many thanks for the responses so far. The issue with the price now is that, at least in NC-inland it seems to be declining market (in fact the appraisal has noted that in his report and he may have been more conservative because of that). So, what seemed like a decent deal a month back…may not seem so anymore because of many more price reductions in the past few weeks.

[teacherSD]

Is it typical for an appraisal to happen a month after an accepted offer? That seems like a long time but I have no experience with it.

Also, why would they bring an appraiser from OC? Who picks the appraiser? The bank?

[teacherSD]

Is it typical for an appraisal to happen a month after an accepted offer? That seems like a long time but I have no experience with it.

Also, why would they bring an appraiser from OC? Who picks the appraiser? The bank?

[teacherSD]

Is it typical for an appraisal to happen a month after an accepted offer? That seems like a long time but I have no experience with it.

Also, why would they bring an appraiser from OC? Who picks the appraiser? The bank?

[teacherSD]

Is it typical for an appraisal to happen a month after an accepted offer? That seems like a long time but I have no experience with it.

Also, why would they bring an appraiser from OC? Who picks the appraiser? The bank?

[teacherSD]

Is it typical for an appraisal to happen a month after an accepted offer? That seems like a long time but I have no experience with it.

Also, why would they bring an appraiser from OC? Who picks the appraiser? The bank?

[rahul]

I was wrong in saying a month, the first offer was initiated about a month back. But there was back and forth activity for two weeks before a final price was agreed upon. This was longer than usual because one of the seller (the wife) has moved to someplace in midwest and was slow to respond.

[rahul]

I was wrong in saying a month, the first offer was initiated about a month back. But there was back and forth activity for two weeks before a final price was agreed upon. This was longer than usual because one of the seller (the wife) has moved to someplace in midwest and was slow to respond.

[rahul]

I was wrong in saying a month, the first offer was initiated about a month back. But there was back and forth activity for two weeks before a final price was agreed upon. This was longer than usual because one of the seller (the wife) has moved to someplace in midwest and was slow to respond.

[rahul]

I was wrong in saying a month, the first offer was initiated about a month back. But there was back and forth activity for two weeks before a final price was agreed upon. This was longer than usual because one of the seller (the wife) has moved to someplace in midwest and was slow to respond.

[Author]

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