Thanks for prompt responce.
As you read my e mail I am looking for 2bed/1+bath One story sunny and bright in nice areas closer to Woodland hills that my daughter is living. I would like 55+ active community. Because I am 63 years old very active out going person. If I do not work any more like to be busy.
Wright now I am working out of town and looing on line for property to find a good safe place to live comfortably when I come back home on first week of April. I like to look at without waisting your time and my time to buy a home. My price range is between 175,000 - 250,00. I am paying cash.
Looking forward hearing from you.
Time will tell...
Good luck to you,
Unwavering Commitment to Service, Unsurpassed Results
Your statement & question are a bit confusing. Was the short sale approved at your offer price? Has your lender already had the home appraised for your purchase money loan? Is that the appraisal that came $15K lower than your offer price, leaving a $15K gap between the amount your lender will loan and the amount you need to borrow to complete the transaction at your offer price? Normally, you don't open escrow or order the appraisal done until you have full written short sale approval by all short sale lenders.
I assume your offer is contingent upon you obtaining loan approval. If you are unable to obtain loan approval as per the terms of your contract you may not be obligated to close the transaction. The seller is not obligated to reduce the sales price to accommodate your loan requirements.
You can always attempt to renegotiate the terms of the short sale approval due to the appraisal problem, but the short sale lenders are under no obligation to agree and may decline the request.