topic Re: va loan appraisal in Mortgage Loans

va loan appraisal

juggalo9er — Wed, 26 Mar 2014 01:45:44 GMT

am i corrent in saying that if an appraisal comes in under the offer price the only things that can happen are .....buyer pays difference....seller lowers price...deal is dead in the water?

Re: va loan appraisal

Anonymous — Wed, 26 Mar 2014 04:13:38 GMT

Yes, you are correct. If you, the buyer cannot pay the difference, and the seller refuses to lower the purchase price, the loan will not be funded.

Husband and I had the same problem withthe first house we put an offer on. Had to walk.

Re: va loan appraisal

juggalo9er — Thu, 27 Mar 2014 21:35:21 GMT

@Anonymous wrote:
Yes, you are correct. If you, the buyer cannot pay the difference, and the seller refuses to lower the purchase price, the loan will not be funded.

Husband and I had the same problem withthe first house we put an offer on. Had to walk.

maybe someone can explain why my realtor is still telling me we plan on closing on the 31st and that the selling agent challenged the appraisal? am i missing something here...i told my realtor point black i will not pay any cash over the 80,000 on the house

Re: va loan appraisal

Anonymous — Sun, 30 Mar 2014 08:26:51 GMT

The appraisal can be challenged. Whether the re-appraisal will come back quickly & whether the appraisal amount change are anyone's guess though. How far off was the appraisal & the offer price? If they're not that far off, then maybe it's just the realtor's experience with the area market that leads her/him to believe it'll all go through & close on time.

Re: va loan appraisal

juggalo9er — Sun, 30 Mar 2014 15:15:27 GMT

it was 3,500$. i am being told they used the tidewater initiative and are asking for rov from the va