Real Estate: If the appraisal comes in below the contract price?
 

If the appraisal comes in below the contract price:

a. The Buyer can cancel.

or

b. The Buyer can ask the Seller to lower the price to the appraisal.

or

c. The Buyer can come up with extra cash, because the appraisal limits what the Buyer can finance.

So................

Generally is the Seller fucked? If the Seller lets the Buyer walk (no adjustment to contract price), won't the next appraisal come in low as well?

All the above is the right answer. It depends on how reasonable the parties are. Maybe motivated is better.

Or Seller and Buyer can find a happy medium .

Most appraisers are pretty much in accordance today so yes the Seller will most likely run into the same problem again. My advice is always to meet in the middle if possible.

Our realtors can best answer but property on or direct connect to the St. Johns river here are selling for double the appraised price. Buyers are not bothering to even look at the appraised price.
Their are two canal lots 3 down from me at $90,000. My buddy just bought across from me and the realtor told him their is NOTHING for sale presently on the canal or river near here.
A home is for sale in Palm Beach adjoining Mar A Largo for $14 mil. Across the intercoastal inland down their $350,000 could get you a nice abode.
So I guess? location location location makes appraisals null and void?

Problem is a property is only worth as much as someone is willing to pay for it. Prices have gone high because interest rates are extremely low, everybody wants to come to Flarda to get away from the cold and high taxes and face it, as an investment you get a better return on a property than you get with the bank. If you rent it out even at cost you still have depreciation, maintenance, etc to use as a deduction.

Man up the street here does that Fred rents his place out. He paid $225,000 or so for it and must rent for high dollar cause the boats the renters come by me in I could not afford the damn gas.
I stopped and spoke with him and he has 4 homes he rents. Guess he ain't on food stamps. :)
Hell I paid $48,500 for this my mortgage around $12,000 left is $196 a month. A completely remolded trailer I live in but put just shy of $70,000 cash into the tree guest house.
On 1/3 acre on the canal open to the St. Johns river out Jacksonville and on to China. Realtors want me to sell for $185,000 even with a $90,000 appraisal.
Hell I ain't sellin nuttin love my conservative gun loving christen Pro Pres. Trump neighbors we all get along just fine. Beer thirty meeting of the minds starts at 16:00 hrs. :thumbsup:

500grains are you moving too?

Thanks for reminding me about appraisers, Sellers and realtors are price gouging in the PNW right now

Too many suckers, easy to slaughter a fat pig

.

Don't blame Realtors, we only advice what the real price is but it's up to the seller and the market to set the price.

I have been here for six years. I am being offered TWICE the price I paid for it. Unfortunately for me...I have eclectic tastes and it looks like my tastes tend toward very pricey mcmansions.

So...as I fucking hate moving....I am here to stay. I like where I live. It's all white honky mofos...not distant to essential...( for old geezers) ...services...downside is that I have to drive some distance for shopping. Meat would say I am and was spoiled by living in the city/communist hellhole & ghetto for so long....EVERYTHING ...was VERY close...too fucking close actually..it was a nice neighborhood of working blacks and whites....until the nlggers started moving in. One by one...my good neighbors began moving out...replaced by...pimps, gangstas, dope dealers, theives...etc.

I don't miss any of the nlgger pathos bull shit. I finally convinced a couple of my longtime blak friends that the KKK was not going to show up here as soon as they stepped into my driveway.

I am still kind of amazed at that, the KKK bogeyman lives in some heads. It took me weeks to convince one of my old neighbors that gunshows were not KKK events. Now..him and his wife hit a lot of the shows....well ....until funshows became illegal because of the zombie plague....an shit.

******* will fix that for you ...... as he fucks up the economy and housing market

:zombie

Commys fuck up everything that is within their grasp....by stealing it...or destroying it. Private ownership of anything....especially any wealth or small businesses owned by white middle class Americans. Our wealth... consisting of anything and everything that nlggerz and wetbacks do not have.....because by working for it...WE ...somehow managed to steal it from the nlggerz and wetbacks...somehow??????

And now....the pseudocommys and their oligarchail collective masters in order to further cement relations with their drones and subhuman soldiers... will now...begin massive wealth redistribution schemes...raking a good percentage of the stolen take for themselves...which is ALWAYS a huge part of the oligarchail power and wealth grabs.

Rewatch....Dr. Zhivago....


Look at anywhere communists have any degree of power....N Korea, soviet Russia, New York City, red china, millwauky wis, Venezuela....Detroit, sanfagkrisko, Seattle, Portland, Austin Texas, Cleveland oh, Columbus oh....the shithole lists are only growing.....

I don't see the dicklessdrones who vote kommykrat....because their daddy did...are ever going to OTE anything but krat....even as the krats starve and kill them.

Sad....