Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

If the Appraisal prepared for the Buyers Financial Institution does not support the agreed Sale Price, What happens?

April 26, 2017agreed appraisal Buyers financial institution happens prepared price sale support

0

Posted

If the Appraisal prepared for the Buyers Financial Institution does not support the agreed Sale Price, What happens?

1 Answer

0

Posted

The first step is for us to discuss the basis for the Appraisers opinion with the Appraiser. If we cannot reach a satisfactory solution, then either the Buyer is required to come up with a larger down payment or the Seller needs to agree to reduce the price. If all else fails, then the contract will be void, and the marketing efforts to find a new Buyer continue.