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the seller's agent
Posted by notarydi/CA of CA on 7/15/19 11:47am Msg #608419
was out-of-area. Not really familiar with this neighborhood. The house had "popcorn" ceilings, no central a/c, original hardwood floors (no carpet). We all thought the original sale price was high, but, there was a bidding war and she got the higher price. Then, when the first appraisal came in on target....we all thought well whoohoo, maybe these houses are worth that.

But, there must have been a contingency clause in the contract for the appraisal scenario. I just thought, how can they do that after you get an appraisal meeting sales price.

As an underwriter, years ago, we had to do desk reviews and full drive-by reviews of appraisals. We had to do 3 desk reviews a week and one drive-by out in the field once a month. Had to come up with "soft value" and "hard value". The $652,000 must be the hard value.

Anyway, good to know that you can put a contingency clause in for the appraisal. And, if I ever sell this place....this one will be good and sold before I get started on another one! And, I'll use a local realtor....not some out-of-area broker!
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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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