Posted on: 07th Aug, 2010 01:21 pm
So a little birdie told me the owners whose house I am buying had refinanced a month ago and the house apprasied at 188k. My purchased prise is 195k. My appraisal will be done next wk. What if it comes in more or less then the owners. What should I do?
This would a great question for your realtor.
If it comes in less, I would attempt to negotiate a lower purchase price. If you can't negotiate a lower price, financing will be based off the value vs. the purchase price and you'll have to come up with the difference. If it appraises higher, you base financing off the price of the purchase agreement.
