What if my appraisal comes in less than the purchase price on my contract? Renegotiate?
I am about to buy a home in Brunswick, GA and it is being appraised by my the lender. Should the seller/builder be willing to negotiate from the orginal purchase price at this point? We are putting a substantial amount down so it won't effect our mortgage with the lender if the appraisal comes in lower than our purchase price on the contract. Or at least I don't think it will. Any advise would be appreciated.
Answers (1)
FIRST ANSWER
Depends how much lower the appraisal might be. If substantial, renegotiate price or bargain for extras.
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Answered Tue Jul 14 2009, 14:52 by Lindsey M. Bishop in Brunswick
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