4
   

buying a house

 
 
Mon 2 Mar, 2015 07:45 am
resolving difference when contract price exceeds bank appraisal by 80000
  • Topic Stats
  • Top Replies
  • Link to this Topic
Type: Question • Score: 4 • Views: 1,078 • Replies: 6
Topic Closed

 
jespah
 
  3  
Mon 2 Mar, 2015 08:46 am
@mailjcun,
Breach the contract and walk away from the deal. And next time, learn from this, and get an appraisal before you make an offer.
0 Replies
 
Ragman
 
  1  
Mon 2 Mar, 2015 09:07 am
@mailjcun,
If your contract relies on a bank mortgage then the contract could be voided due to not being able to secure a loan. Are you paying for the house without using a bank?
roger
 
  1  
Mon 2 Mar, 2015 03:38 pm
@Ragman,
That might need to be listed as a contingency to the offer.
Ragman
 
  1  
Mon 2 Mar, 2015 04:21 pm
@roger,
FWIW, I've never had a purchase-and-sale contract without that contingency.
roger
 
  1  
Mon 2 Mar, 2015 05:03 pm
@Ragman,
I'm not surprised. If I were financing, I would also specify available financing charges not to exceed some certain APR.
Ragman
 
  1  
Mon 2 Mar, 2015 05:13 pm
@roger,
same here. In fact, it'd be a narrow range of plus or minus 0.25% or even less.
0 Replies
 
 

Related Topics

Go buy a f'n house! - Discussion by Slappy Doo Hoo
Foreclosed Properties - Discussion by Brandon9000
Invest in Real Estate or Stocks??? - Discussion by baken
Mobile Home Model Name - Question by Moonlit
Foreclosure - Question by davidsaadatph
Question on apartment deposit...? - Question by tsarstepan
Houseboats? S(t)ink or swim? - Discussion by tsarstepan
 
  1. Forums
  2. » buying a house
Copyright © 2019 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 0.03 seconds on 10/22/2019 at 08:42:17