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Re: how does this happen?
Posted by Lee/AR of AR on 7/14/19 2:26pm Msg #608397
There are weasels everywhere. How much Earnest Money did the Buyers put down? Unless the Offer was contingent upon the B getting & being satisfied with their own independent Appraisal, the Seller would be entitled to the EM if they back out. Good in theory, but, in practice--it's a gamble--and doesn't solve Sellers problem. Besides, you said she'd already caved, so that's moot.

FWIW, I've seen similar messes when the Lender's Appraiser doesn't come up with a value equal to the sale price.
If it's to close, a price reduction is needed. That may have been a factor here.
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Messages in this Thread
 how does this happen? - notarydi/CA on 7/14/19 12:57pm
 Re: how does this happen? - Lee/AR on 7/14/19 2:26pm
 Re: how does this happen? - Luckydog on 7/14/19 2:30pm
 Re: how does this happen? -  JanetK_CA on 7/14/19 3:14pm
 there was a bidding war.... - notarydi/CA on 7/14/19 4:15pm
 Re: there was a bidding war.... - Luckydog on 7/14/19 6:37pm
 Re: there was a bidding war.... -  Anita Edwards on 7/16/19 9:54am
 Hooray for the buyer's agent! - Bear900/CA on 7/15/19 1:26am
 It's Di who is right... ;>) n/m -  JanetK_CA on 7/15/19 1:57am
 Right on ... - BobbiCT on 7/15/19 6:50am
 Re: Right on ... Totally agree w/BobbiCT - Lee/AR on 7/15/19 7:12am
 Re: Right on ... - Luckydog on 7/15/19 9:43am
 Access to same sales data, does not mean they are comps - sigtogo/OR on 7/15/19 12:03pm
 Re: second appraisal - Jules on 7/15/19 10:24am
 the seller's agent - notarydi/CA on 7/15/19 11:47am
 i thought you meant the agent was on vacation! - sigtogo/OR on 7/15/19 12:01pm
 so many unanswered questions to figure out what happened! - sigtogo/OR on 7/15/19 11:56am
 Notarydi/CA: This Is What I Think Happened -  PegiT_MN on 7/15/19 4:23pm



 
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