Home Buying in 36542>Question Details

Investor, Home Buyer in 36542

Many parts of the country are experiencing problems with appraisals coming in for contracted purchase price.

Asked by Investor, 36542 Mon Aug 24, 2009

Has this been a problem in the Gulf Shores area as it relates to closings of sales in the condo market.

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Answers

5
Yes, there are some many foreclosures, short sales that it is affecting the appraisals...
1 vote Thank Flag Link Thu Aug 27, 2009
I don't see a problem. An appraisal at the contracted price usually means the parties are happy and will continue with the sale.
0 votes Thank Flag Link Mon Aug 26, 2013
How would that be a problem? I would think it would be okay as long as it is not less than purchase price.
0 votes Thank Flag Link Mon Aug 26, 2013
Yep, that is true. Its not a problem unless its lower.
Flag Mon Aug 26, 2013
Its not really a problem if it matches the contract purchase price, only if it is lower than the contract price.
0 votes Thank Flag Link Mon Aug 26, 2013
Yes there have been problems.
0 votes Thank Flag Link Fri Dec 18, 2009
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