Houses not appraising for the purchase offer

[Cosmo31]

If a house purchase enters escrow, the required appraisal happens and then the house does not appraise for what is being offered, is the buyer out the down payment? I’m curious because I am waiting for word from the appraisor working with my loan person.

What is the next step? Does the deal completely fall through?

Thanks,
Cosmo

[Coronita]

Not an expert, but assuming the buyer is taking out a loan,couldn’t he/she can just have that appraisal trigger the loan contigency as a way to get out, assuming that wasn’t waived?

[Coronita]

Not an expert, but assuming the buyer is taking out a loan,couldn’t he/she can just have that appraisal trigger the loan contigency as a way to get out, assuming that wasn’t waived?

[Coronita]

Not an expert, but assuming the buyer is taking out a loan,couldn’t he/she can just have that appraisal trigger the loan contigency as a way to get out, assuming that wasn’t waived?

[Coronita]

Not an expert, but assuming the buyer is taking out a loan,couldn’t he/she can just have that appraisal trigger the loan contigency as a way to get out, assuming that wasn’t waived?

[Coronita]

Not an expert, but assuming the buyer is taking out a loan,couldn’t he/she can just have that appraisal trigger the loan contigency as a way to get out, assuming that wasn’t waived?

[NotCranky]

If things have been getting done right, you either get your earnest money back or you can try to renegotiate to the appraisal price. You should have an appraisal contigency in your offer, be within timelines for using it as a basis for cancellation and cancel or offer an addendum for a price change. Alternately you put up more of a downpayment if you want to proceed, which I doubt.

[NotCranky]

If things have been getting done right, you either get your earnest money back or you can try to renegotiate to the appraisal price. You should have an appraisal contigency in your offer, be within timelines for using it as a basis for cancellation and cancel or offer an addendum for a price change. Alternately you put up more of a downpayment if you want to proceed, which I doubt.

[NotCranky]

If things have been getting done right, you either get your earnest money back or you can try to renegotiate to the appraisal price. You should have an appraisal contigency in your offer, be within timelines for using it as a basis for cancellation and cancel or offer an addendum for a price change. Alternately you put up more of a downpayment if you want to proceed, which I doubt.

[NotCranky]

If things have been getting done right, you either get your earnest money back or you can try to renegotiate to the appraisal price. You should have an appraisal contigency in your offer, be within timelines for using it as a basis for cancellation and cancel or offer an addendum for a price change. Alternately you put up more of a downpayment if you want to proceed, which I doubt.

[NotCranky]

If things have been getting done right, you either get your earnest money back or you can try to renegotiate to the appraisal price. You should have an appraisal contigency in your offer, be within timelines for using it as a basis for cancellation and cancel or offer an addendum for a price change. Alternately you put up more of a downpayment if you want to proceed, which I doubt.

[Cosmo31]

Well, a few things have been a little short of ‘right’ in this purchase, hence my occasional groveling for advice from the Piggies.

My real estate agent is a relative. Not a Brother-in-law, or a niece, or another non-immediate family member.. but…… my Mom. I’ll say no more.

Thanks a ton for the advice, as always.

Cosmo

[Cosmo31]

Well, a few things have been a little short of ‘right’ in this purchase, hence my occasional groveling for advice from the Piggies.

My real estate agent is a relative. Not a Brother-in-law, or a niece, or another non-immediate family member.. but…… my Mom. I’ll say no more.

Thanks a ton for the advice, as always.

Cosmo

[Cosmo31]

Well, a few things have been a little short of ‘right’ in this purchase, hence my occasional groveling for advice from the Piggies.

My real estate agent is a relative. Not a Brother-in-law, or a niece, or another non-immediate family member.. but…… my Mom. I’ll say no more.

Thanks a ton for the advice, as always.

Cosmo

[Cosmo31]

Well, a few things have been a little short of ‘right’ in this purchase, hence my occasional groveling for advice from the Piggies.

My real estate agent is a relative. Not a Brother-in-law, or a niece, or another non-immediate family member.. but…… my Mom. I’ll say no more.

Thanks a ton for the advice, as always.

Cosmo

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