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So you come in and make us an offer on our home well over our list price, and now that the house appraises for just barely over list, you don't apparently have the money to make up the difference for the loan.

Fuck you......
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8/23/2016 1:46:22 PM

Quote :

"TWW BLOG ENTRY"

8/23/2016 4:15:24 PM

so are you going to take what he can get the note for or what

8/23/2016 4:55:39 PM

^^^Won't most banks only approve for what a home appraises for? I don't see how this makes the potential buyers assholes.

8/23/2016 4:59:33 PM

^OP was led to believe buyer would come up with difference in cash

8/23/2016 5:05:19 PM

Playing hardball

8/23/2016 5:05:25 PM

^^Ah, ok.

So do you at least get to keep the earnest money?

8/23/2016 5:06:36 PM

We're seeing right now. Couple different things we are looking at.

Appraisal might be accurate but one of the comps is a short sale and they aren't really consistent. There is literally at $70,000 dollar range between the highest and lowest comps so it's kinda a crapshoot on the appraisal. That said the highest comp is the most recent one. We are trying to challenge this a bit but honestly the appraisal is just over list so we priced pretty well and I don't expect to budge here.

Quote :

"OP was led to believe buyer would come up with difference in cash"

I understand there can be appraisal issues but this isn't something where the list price was unreasonable. They came in with an offer that was $20K over list price on the first day we were on the market and basically now are surprised that they made a bad deal. They are claiming poverty that they don't have any cash to make up the difference.

I feel like we were fairly considerate, just because we want to close the sale and tried to meet in the middle if they could scrounge up 5-10K more. And they came back that they could only put up 2K more cash and they still want a ton of repairs done on our dime.

As far as I'm concerned you can't come with an offer like that and then claim complete poverty cause otherwise you shouldn't have any business looking at the price range you did.

Don't know how much is the buyer being unreasonable versus the realtor causing problems here to be honest.

[Edited on August 23, 2016 at 8:24 PM. Reason : ]

8/23/2016 8:07:11 PM

Quote :

"You, sir, are an asshole"

8/23/2016 8:43:00 PM

this is where a good agent would be very helpful

8/23/2016 9:12:04 PM

We had to pay over asking for our house and we didn't think it would appraise either so we came up with the difference. The market was still catching up so the reason for the low appraisal was a lack of realistic comps, now that more houses have sold it is even more obvious and it would definitely appraise for more than we paid. In order for our offer to even be accepted we had to sign a form that we would make up the difference if needed. I would suggest that if this falls apart.

8/23/2016 9:18:23 PM

^ Thanks will have to see about that.

I mean if we were just talking about 5K or something we would probably just have eaten that ourselves just to keep business moving but the combination of dropping the price 20,000 dollars and then they still seem to be hung up on a bunch of minor repairs (half covered by HOA) and a small mold spot (that our remediation guy said we could just do ourselves if we didn't want to pay him). Just seems an unreasonable expectation from their side.

I'd probably take it back to market if we didn't have a kid on the way or if I looked around and expected a sale to raise our comps but we'll see what we can work out.

8/24/2016 10:07:20 AM