I have a signed contract for a short sale that I thought would be way below market value, it being a short
sale and all, but was appraised for lower than the approved price listed in the contract, is there a way to get this reduced by the bank so I can close on this property? My attorney wrote to the sellers agent asking for a reduction in the sale price, and also submitted the appraisal report to her. I also have a mortgage committment for the appraised value, which I sent to the sellers agent, but which was not submitted to the bank, what can I do o expedite this deal?
Answers (1)
FIRST ANSWER
The best thing to do is make sure your attorney writes to the bank along with copy of the current appraisal and asks for a price consideration. Make sure it goes to the attorney for the bank.
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