Hi Mickey,

That lender won't fund the loan unless one of a few things happens:

1) You reduce to the appraised value, or

2) The buyer makes up the difference, or

3) You and the buyer compromise and somebody makes up the difference (say you come down some and he/she comes up some from the appraised value and pays the difference), or

4) The buyer insists on a new appraisal or the buyer contests the appraisal (and the agent provides comps) justifying the higher value - no guarantees here. This is is especially important if it's an FHA loan, because the appraisal stays with the house even if there's another buyer and another lender (for six months).

5) The buyer tries again with a different lender.

Generally, most people do one of the first three.

Hope that helps! Good luck and send any seller referrals my way!

Sincerely,
Diallo J. Stevens, REALTOR®, CRS, GRI, SRES, RECS, e-PRO

Twitter: http://www.twitter.com/DialloStevens
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E-mail: Diallo@DialloStevens.com
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no,the bank cannot loan more than the appraised value. if they want the house at that price,they will have to come up with the additional 30K themselves.