I'm really enjoying interacting with LogoTV viewers about their real estate/design probelms. Another LogoTV viewer pops Hermanity a question:
QUESTION: We offered $600k on our dream house, but it appraised for $590k. What to do?
ANSWER: You can
1) invoke your appraisal contingency & walkaway from the deal
2) convince seller to reduce price by $10k
3) bring in the $10k yourself to bridge the gap.
BOTTOM LINE: If this is truly your dream home, the place you will live in til the day you die, then what is $10k in the grand scheme of life? Besides, amortized over 30 yrs, you're paying a few dollars more per month. Just sayin'!
QUESTION: We offered $600k on our dream house, but it appraised for $590k. What to do?
ANSWER: You can
1) invoke your appraisal contingency & walkaway from the deal
2) convince seller to reduce price by $10k
3) bring in the $10k yourself to bridge the gap.
BOTTOM LINE: If this is truly your dream home, the place you will live in til the day you die, then what is $10k in the grand scheme of life? Besides, amortized over 30 yrs, you're paying a few dollars more per month. Just sayin'!
