reefraff
Active Member
Originally Posted by Cranberry
http:///forum/post/3265162
It's not the price they are asking that's a problem persa. The bank will only give a loan up to what the house it worth as compared with recently sold houses in the area. If you want a house that the asking price is more than it appraises for, you have to come up with the rest in cash so the depreciation gamble is yours.
Just heard there was officially 5 offers and they are going to meet and decide on Tuesday.... Holy Smokes!
53 people walked through..... I hope they took their shoes off when they walked on MY stinkin' floors.
I would use that previous appraisal as my offering price. I would just approach it from the standpoint that you want the house and think it's worth what they are asking but simply can't come up with the difference between the asking and appraisal price. At least it will get them into the mindset that they would like to sell you the house because you think it's worth what they are asking. With the buyers credit expiring the market is going to be slow this month so I wouldn't be in a huge rush to make a new offer. Let them stew a little.
5 offers isn't so bad. One we offered on hit the market on a friday afternoon and by Sunday night had 14 offers. Another had 6 and none was for asking price but one other person beat us out by a few grand on the offer price. It's a gamble for sure.
http:///forum/post/3265162
It's not the price they are asking that's a problem persa. The bank will only give a loan up to what the house it worth as compared with recently sold houses in the area. If you want a house that the asking price is more than it appraises for, you have to come up with the rest in cash so the depreciation gamble is yours.
Just heard there was officially 5 offers and they are going to meet and decide on Tuesday.... Holy Smokes!
53 people walked through..... I hope they took their shoes off when they walked on MY stinkin' floors.
I would use that previous appraisal as my offering price. I would just approach it from the standpoint that you want the house and think it's worth what they are asking but simply can't come up with the difference between the asking and appraisal price. At least it will get them into the mindset that they would like to sell you the house because you think it's worth what they are asking. With the buyers credit expiring the market is going to be slow this month so I wouldn't be in a huge rush to make a new offer. Let them stew a little.
5 offers isn't so bad. One we offered on hit the market on a friday afternoon and by Sunday night had 14 offers. Another had 6 and none was for asking price but one other person beat us out by a few grand on the offer price. It's a gamble for sure.
