Home Buying in Greenwood>Question Details

Lily, Home Buyer in Brooklyn, NY

Should the bank approve my offer if it close to appraisal ?

Asked by Lily, Brooklyn, NY Mon Jun 4, 2012

My lawyer has never given me any advices, he only said I shoud increase offer if I really like the house or could ask down payment at any time. My agent always says we will get it soon.

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Answers

5
Unfortunately none of us can speak for bank; however if your attorney is not being helpful, consider another....
1 vote Thank Flag Link Tue Jun 5, 2012
Dear Lily:

Your attorney should be helping you with this. If your attorney is not helping you you may need to find a new attorney. If I can be of further assistance, please let me know.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
1 vote Thank Flag Link Tue Jun 5, 2012
Lily,
Depending on your down payment, How off the value is from the purchase prise and how bad you want the property will be the determining factor.

Call me I can help get you a Mortgage for this property.


Chris Miceli
Mortgage Loan OIfficer
(646)- 623-2492

PNC Mortgage
0 votes Thank Flag Link Sun Jan 13, 2013
Dear Lily:

The reason your lawyer does not give you advise is because he has not viewed the property and he is not buying the property. The decision is up to you. Basically, you have 3 options here... 1) Just wait and see what happens, 2) raise your offer and then just wait and see what happens or 3) forget about the deal and get your down payment back (if you can legally). Just think it over and make a decision. Good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Wed Jun 6, 2012
Is it a short sale or conventional?
There are too many factors to say whether or not your bid will be accepted.

If it is a conventional sale & your bid was accepted by the seller, the lending bank appraised it higher (on a conventional sale) & all your credit factors are in order the sale should go through.

However, if the bank does not want to make the loan they have many ways of not doing so...

Hope this shed some light.

Regards,

Jack Menashe
917.797.0215
http://www.SHERestates.com
0 votes Thank Flag Link Tue Jun 5, 2012
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