[veees]

[quote=SD Realtor]Hi Vees,

Loan mods means that there may be other people in the complex who have had thier mortgages modified. That is, they to are in distress but the lender modified the terms of the loan.

Your home will be assessed based on the price of the sale not the appraisal.

As for your strategy it sounds good. Simply give it a shot and see what happens. If the seller does not negotiate then you have the option of walking or hanging in there. I think it will work out. [/quote]

thanks SD realtor. i will update the post once the appraisal report is back..

[veees]

[quote=SD Realtor]Hi Vees,

Loan mods means that there may be other people in the complex who have had thier mortgages modified. That is, they to are in distress but the lender modified the terms of the loan.

Your home will be assessed based on the price of the sale not the appraisal.

As for your strategy it sounds good. Simply give it a shot and see what happens. If the seller does not negotiate then you have the option of walking or hanging in there. I think it will work out. [/quote]

thanks SD realtor. i will update the post once the appraisal report is back..

[veees]

[quote=SD Realtor]Hi Vees,

Loan mods means that there may be other people in the complex who have had thier mortgages modified. That is, they to are in distress but the lender modified the terms of the loan.

Your home will be assessed based on the price of the sale not the appraisal.

As for your strategy it sounds good. Simply give it a shot and see what happens. If the seller does not negotiate then you have the option of walking or hanging in there. I think it will work out. [/quote]

thanks SD realtor. i will update the post once the appraisal report is back..

[veees]

[quote=SD Realtor]Hi Vees,

Loan mods means that there may be other people in the complex who have had thier mortgages modified. That is, they to are in distress but the lender modified the terms of the loan.

Your home will be assessed based on the price of the sale not the appraisal.

As for your strategy it sounds good. Simply give it a shot and see what happens. If the seller does not negotiate then you have the option of walking or hanging in there. I think it will work out. [/quote]

thanks SD realtor. i will update the post once the appraisal report is back..

[veees]

[quote=SD Realtor]Hi Vees,

Loan mods means that there may be other people in the complex who have had thier mortgages modified. That is, they to are in distress but the lender modified the terms of the loan.

Your home will be assessed based on the price of the sale not the appraisal.

As for your strategy it sounds good. Simply give it a shot and see what happens. If the seller does not negotiate then you have the option of walking or hanging in there. I think it will work out. [/quote]

thanks SD realtor. i will update the post once the appraisal report is back..

[veees]

thanks a lot folks!
SD relator,

What does loan mods mean?

It is a regular sale of a townhome. the last three homes that sold there were all foreclosures/short sales and were priced about 23K lower than my offer (which is in the mid 400K). The appraisal has not come back yet but both me and my Realtor feels it will be anywhere from 10K to 23K lower. we will try to negotiate with the seller, but we got into escrow after going through a 3 way bidding..so there are potential backups…

On what price will the property tax be accessed,? the appraisal value or the price at which we buy

[veees]

thanks a lot folks!
SD relator,

What does loan mods mean?

It is a regular sale of a townhome. the last three homes that sold there were all foreclosures/short sales and were priced about 23K lower than my offer (which is in the mid 400K). The appraisal has not come back yet but both me and my Realtor feels it will be anywhere from 10K to 23K lower. we will try to negotiate with the seller, but we got into escrow after going through a 3 way bidding..so there are potential backups…

On what price will the property tax be accessed,? the appraisal value or the price at which we buy

[veees]

thanks a lot folks!
SD relator,

What does loan mods mean?

It is a regular sale of a townhome. the last three homes that sold there were all foreclosures/short sales and were priced about 23K lower than my offer (which is in the mid 400K). The appraisal has not come back yet but both me and my Realtor feels it will be anywhere from 10K to 23K lower. we will try to negotiate with the seller, but we got into escrow after going through a 3 way bidding..so there are potential backups…

On what price will the property tax be accessed,? the appraisal value or the price at which we buy

[veees]

thanks a lot folks!
SD relator,

What does loan mods mean?

It is a regular sale of a townhome. the last three homes that sold there were all foreclosures/short sales and were priced about 23K lower than my offer (which is in the mid 400K). The appraisal has not come back yet but both me and my Realtor feels it will be anywhere from 10K to 23K lower. we will try to negotiate with the seller, but we got into escrow after going through a 3 way bidding..so there are potential backups…

On what price will the property tax be accessed,? the appraisal value or the price at which we buy

[veees]

thanks a lot folks!
SD relator,

What does loan mods mean?

It is a regular sale of a townhome. the last three homes that sold there were all foreclosures/short sales and were priced about 23K lower than my offer (which is in the mid 400K). The appraisal has not come back yet but both me and my Realtor feels it will be anywhere from 10K to 23K lower. we will try to negotiate with the seller, but we got into escrow after going through a 3 way bidding..so there are potential backups…

On what price will the property tax be accessed,? the appraisal value or the price at which we buy

[veees]

[quote=sdrealtor]It depends why it didnt appraise. Was it over priced relative to close comparables or was it difficult to appraise because of the lack of close comparables?[/quote]

o0nly 2-3 comparable were sold within the last 3 months in that area and they all were foreclosures. Also the place we are in for is highly upgraded..

so not sure what to do 🙁

[veees]

[quote=sdrealtor]It depends why it didnt appraise. Was it over priced relative to close comparables or was it difficult to appraise because of the lack of close comparables?[/quote]

o0nly 2-3 comparable were sold within the last 3 months in that area and they all were foreclosures. Also the place we are in for is highly upgraded..

so not sure what to do 🙁

[veees]

[quote=sdrealtor]It depends why it didnt appraise. Was it over priced relative to close comparables or was it difficult to appraise because of the lack of close comparables?[/quote]

o0nly 2-3 comparable were sold within the last 3 months in that area and they all were foreclosures. Also the place we are in for is highly upgraded..

so not sure what to do 🙁

[veees]

[quote=sdrealtor]It depends why it didnt appraise. Was it over priced relative to close comparables or was it difficult to appraise because of the lack of close comparables?[/quote]

o0nly 2-3 comparable were sold within the last 3 months in that area and they all were foreclosures. Also the place we are in for is highly upgraded..

so not sure what to do 🙁

[veees]

[quote=sdrealtor]It depends why it didnt appraise. Was it over priced relative to close comparables or was it difficult to appraise because of the lack of close comparables?[/quote]

o0nly 2-3 comparable were sold within the last 3 months in that area and they all were foreclosures. Also the place we are in for is highly upgraded..

so not sure what to do 🙁

[Author]

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