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re: Appraisal on house
Posted on 11/14/17 at 8:57 pm to ItNeverRains
Posted on 11/14/17 at 8:57 pm to ItNeverRains
The appraisal contingency shouldn’t have to be used to get out of the offer if the square footage was misrepresented by the seller. At this point, they should be able to walk away from the original contract based on misrepresentation alone.
This post was edited on 11/14/17 at 8:58 pm
1
Posted on 11/15/17 at 6:39 am to LPTReb
The apprasial came back 25K less than the original contract. Of course the price per sq foot went for what we agreed upon at a 132/ft to 145/ft. The appraiser seemed to go out of her way to get the value as high as possible. With that said it is a nice house and worth more than the 132/sq IMO. We made an offer of 400,000 with 10K paid by sellers for closing/prepaids. The 400,000 is the appraised value BTW. Told my agent that is our best offer so take it or leave it. I have a nice house that I don't need to leave immediately so if they reject we will jus sit back and shop until another house meets our needs and wants 
This post was edited on 11/15/17 at 6:41 am
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