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re: Appraisal on house
Posted on 11/15/17 at 6:39 am to LPTReb
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
2
Posted on 11/15/17 at 3:25 pm to iron banks
They are handcuffed by the appraisal. They’ll take the 25k off from appraiser. Anything above that, if your market is like mine, would be iffy In this situation.
Curious if you are taking out 30 year loan on this house and have you locked rate yet?
Curious if you are taking out 30 year loan on this house and have you locked rate yet?
This post was edited on 11/16/17 at 4:47 am
Posted on 11/15/17 at 8:05 pm to iron banks
You need to get this price per square foot notion out of your head. That isn’t how houses are priced or sold with the exception of a custom built or contracted built home. You keep making this silly analogy about price per square foot. That’s only one part of the equation and not the whole as you seem to think it is.
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