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We have not - but - we have countered that the Buyer would need to agree to come up with the extra cash if it didn't appraise!!
just checking out some of the older questions and answers here at Activerain,i have never had this situation before
Yes we did that on a transaction last winter where we countered back at a lower price of $3,000, and eliminated the $3,000 in seller paid closing costs for the buyer.
No, I'd the appraisal comes in lower, sellers can still agree to the lower price.
no.... the price can always be adjusted downward.....one never knows what the appraisers thoughts might be....not an exact science as you well know.... why not roll the dice and see what happens....
No, I've never done this. Though I have alerted both sellers and buyers of this possibility.
I write a counter if that is what the clients I represent want to do, I make a point of telling the other side when I have apprasial concerns, when it suits my clients best interests.
I just di that yesterday. Buyer wanted the property and overbid...I knew it would appraise.
Originally yes, however, the after the counter offer an explanation was given to provide information on why two local homes sold for well below market value. Additionally, the home I sold had many more upgrades than the other two homes. The home did appraise for the selling price.