TIDEWATER!!!!!!!!!!!!!!!!!!!! Argh

[Anonymous]

After a crazy last few months we were finally at the home stretch.  Then the VA appraisal happened.  We were just informed we were in the 48 hour tidewater initiative.  The agents are now rounding up comps to send off to the appraiser.  I know this has zero chance of affedting their decision but oh well.  Of course we have no idea how low the appraisal is.  It could be 1000 dollars or 50000 dollars.  Now I get to stress about this the whole weekend with my 30 day notice for leaving my lease coming up on Monday.

Has anyone gone through this and maybe tell me some ranges of how far off their appraisals were as compared to the purchase price.  I am wondering if it is even possible that they would do this for being 1000 off since they have the contract at the time of the appraisal.  Also if anyone could tell me what was the final resolution so that i can stress accordingly.  I am not going to overpay for the house but I am sure that the first thing the sellers will offer is to lower my closing cost contributions which I also dont want to do.  was anyone able to get the full unicorn outcome of the sellers dropping the purchise price to the appraised price and still cover closing costs.  Any insight would be appreciated.

p.s. my life sucks right now.

[IOBA]

How did things work out?

On our last appraisal, we found material errors.  Went back to the lender with the errors and the appraiser "corrected" them.  It didn't affect the outcome of our appraisal value though.

[Anonymous]

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@IOBA wrote:

How did things work out?

On our last appraisal, we found material errors.  Went back to the lender with the errors and the appraiser "corrected" them.  It didn't affect the outcome of our appraisal value though.

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The appraisal after tidewater came in 11000 under the purchase price.  We of course freaked out and feared the worst, but the sellers just came down 11000 and we were on our merry way.  We got the final underwriting approval on Friday and now we are just waiting to close.

[StartingOver10]

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@Anonymous wrote:

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@IOBA wrote:

How did things work out?

On our last appraisal, we found material errors.  Went back to the lender with the errors and the appraiser "corrected" them.  It didn't affect the outcome of our appraisal value though.

---

The appraisal after tidewater came in 11000 under the purchase price.  We of course freaked out and feared the worst, but the sellers just came down 11000 and we were on our merry way.  We got the final underwriting approval on Friday and now we are just waiting to close.

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Excellent news!  Congratulations on getting your new home for $11k less  When do you close?

[Anonymous]

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@StartingOver10 wrote:

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@Anonymous wrote:

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@IOBA wrote:

How did things work out?

On our last appraisal, we found material errors.  Went back to the lender with the errors and the appraiser "corrected" them.  It didn't affect the outcome of our appraisal value though.

---

The appraisal after tidewater came in 11000 under the purchase price.  We of course freaked out and feared the worst, but the sellers just came down 11000 and we were on our merry way.  We got the final underwriting approval on Friday and now we are just waiting to close.

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Excellent news!  Congratulations on getting your new home for $11k less  When do you close?

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Thanks. We close the 29th but we are trying to move it up.

[IOBA]

I am happy for you!