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Notarydi/CA: This Is What I Think Happened
Posted by  PegiT_MN of MN on 7/15/19 4:23pm Msg #608428
The home is listed for $670,000 and a buyer comes through, loves the house, writes a purchase agreement for the asking price of $670,000. Their agent probably ran a few comps and said it seemed like a fair price so all was well. Their lender had an appraisal done and it came in at the asking price of $670,000. The true value of the home may have only been $652,000, but the appraiser could find enough comps to support the $670,000 asking price and the lender said they were fine with the appraisal and would lend at that purchase price. For whatever reason, the buyers decided to get an independent appraisal and that appraiser valued it at only $652,000. Like sigtogo/OR stated, it is a 2.7% difference in value.
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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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