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Home value came in 8,000 less than what we need :(

Regular Contributor

Re: Home value came in 8,000 less than what we need :(

Oh how I hoep that is the case. Now that you mention that about an appraisal staying with the property for 6 months or so. I'll keep you guys posted.

2/28/12 -TU FICO 646 3/28/12 TU-FICO 647 4/19/20 TU-662,
2/28/12 - EQ FICO 557 3/14/12- EQ FICO 600 3/16/12 EQ FICO 623, EQ FICO 628, 7/2/12 662
2/20/12 - EXP FAKO 620 3/16/12 FAKO 631 FAKO 643 3/28/12 655 (MTG pull) 5/7/12 698

CURRENT GOAL MID 640 LONGTERM 700 CLUBSmiley Happy
Message 11 of 17
Regular Contributor

Re: Home value came in 8,000 less than what we need :(

OK Wells Fargo will reduce the price to the apparisal value but will no longer pay 3500 in closing cost...We are going back to see if the will pay at least half or at least pay for a home warranty as

2/28/12 -TU FICO 646 3/28/12 TU-FICO 647 4/19/20 TU-662,
2/28/12 - EQ FICO 557 3/14/12- EQ FICO 600 3/16/12 EQ FICO 623, EQ FICO 628, 7/2/12 662
2/20/12 - EXP FAKO 620 3/16/12 FAKO 631 FAKO 643 3/28/12 655 (MTG pull) 5/7/12 698

CURRENT GOAL MID 640 LONGTERM 700 CLUBSmiley Happy
Message 12 of 17
Senior Contributor

Re: Home value came in 8,000 less than what we need :(

Keep negotiating.  Tell them you need the money for closing.  See how easy that was?

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Message 13 of 17
Regular Contributor

Re: Home value came in 8,000 less than what we need :(

Thanks Booner we are. If they won't we will take the house, but we figure it can't hurt to try!

2/28/12 -TU FICO 646 3/28/12 TU-FICO 647 4/19/20 TU-662,
2/28/12 - EQ FICO 557 3/14/12- EQ FICO 600 3/16/12 EQ FICO 623, EQ FICO 628, 7/2/12 662
2/20/12 - EXP FAKO 620 3/16/12 FAKO 631 FAKO 643 3/28/12 655 (MTG pull) 5/7/12 698

CURRENT GOAL MID 640 LONGTERM 700 CLUBSmiley Happy
Message 14 of 17
Regular Contributor

Re: Home value came in 8,000 less than what we need :(

They won't budge...they said final offer was the apparised value. We accepted. Sthinks  but it's ok.

2/28/12 -TU FICO 646 3/28/12 TU-FICO 647 4/19/20 TU-662,
2/28/12 - EQ FICO 557 3/14/12- EQ FICO 600 3/16/12 EQ FICO 623, EQ FICO 628, 7/2/12 662
2/20/12 - EXP FAKO 620 3/16/12 FAKO 631 FAKO 643 3/28/12 655 (MTG pull) 5/7/12 698

CURRENT GOAL MID 640 LONGTERM 700 CLUBSmiley Happy
Message 15 of 17
Valued Contributor

Re: Home value came in 8,000 less than what we need :(


Tpelc23 wrote:

They won't budge...they said final offer was the apparised value. We accepted. Sthinks  but it's ok.


Look at the bright side... $3500 in closing cost you have to pay (or their abouts) and they lowered the price of the home $8000. Savings of $4500 plus interest charges over the cost of the loan. You are still way ahead of the game. Congrats and enjoy your new home....

Good Luck
May all your dreams and wishes become a reality!
Message 16 of 17
Highlighted
Regular Contributor

Re: Home value came in 8,000 less than what we need :(

That is exactly how we looked at it. In the long run it is a much better deal for us. Now if we could just get this deal done. I'm starting to lose hope.

2/28/12 -TU FICO 646 3/28/12 TU-FICO 647 4/19/20 TU-662,
2/28/12 - EQ FICO 557 3/14/12- EQ FICO 600 3/16/12 EQ FICO 623, EQ FICO 628, 7/2/12 662
2/20/12 - EXP FAKO 620 3/16/12 FAKO 631 FAKO 643 3/28/12 655 (MTG pull) 5/7/12 698

CURRENT GOAL MID 640 LONGTERM 700 CLUBSmiley Happy
Message 17 of 17