Third Party Financing Condition Addendum All Locations : Advice

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Lucie Ogdee,…, Real Estate Pro in Houston, TX
Lucie Ogdee, MBA answered:
What do you do when the you are already under contract to buy a property at a set price, then the lender will only loan you 80% of the contract price?
The financing contingency period does not apply to the appraisal or condition of the property. It only applies to the financial evaluation of the Buyer. If the house did not appraise ... more
0 votes Share Flag Wed Mar 10, 2010 Financing in Houston
Steven Ornel…, Real Estate Pro in Fremont, CA
Steven Ornellas answered:
Foreclosures vs short sales?
Jack, ranked by priority, I'd go REO, non-distressed listings, and Short Sales. I have plenty of "scar tissue" from short sales - you have not been misinformed! Best, Steve
0 votes Share Flag Sun Aug 16, 2009 Foreclosure in Elk Grove
Matt Stiglia…, Real Estate Pro in San Antonio, TX
Matt Stigliano answered:
I am going to sell a rental home. To all potential buyers.

Based on what I understand from your question, it looks like you want an appraisal down before the repairs, then one after the repairs (or based on the repairs being made) and ... more
0 votes Share Flag Sun Apr 26, 2009 Home Selling in 78283
Jeffrey Schn…, Real Estate Pro in Austin, TX
Jeffrey Schnabel answered:
Third party financing condition adendum TREC Form 40-3

Not sure why anyone is giving you the wrong answer. The right answer is "Yes, they can terminate the contract and get their earnest money refunded to them if they are not ... more
0 votes Share Flag Wed May 27, 2009 Financing in Texas
Susan Wesely,  in Saint Paul, MN
Susan Wesely answered:
We put a contract on the house, its a few days before we were going to close and We have found out that there
What does your contract say? What does your Realtor advise? Did you find this oput as part of your inspection process, and, if so, are you still within the timeframe to negotiate fixe ... more
0 votes Share Flag Sun Jul 20, 2008 Home Buying in Weimar, TX
Brett Troskey, Real Estate Pro in Palm Beach, FL
Brett Troskey answered:
what if appraisal comes in lower than purchase price?
Most Realtor contracts has a clause stating that the house must appraise at or above sales price. If it does not, the buyer has the right to cancel the contract and receive their earne ... more
0 votes Share Flag Tue May 27, 2014 Home Buying in 78759
Carolyn Mori…, Real Estate Pro in Altamonte Springs, FL
Carolyn Moriarty answered:
No one answered by other question. Do banks counteroffer on short sales or simply approve vs disapprove?
Absolutely...they do counteroffer on short sales. Once there is a contract on the property, the agent submits the executed offer from the buyer and seller along with a HUD-1 Settlement ... more
0 votes Share Flag Tue Aug 27, 2013 Home Buying in Oceanport
Bruce Lynn, Real Estate Pro in Coppell, TX
Bruce Lynn answered:
Is it ok to put a statement in the contract saying that the house must appraise for the selling price?
I often see this, but the way I understand, This is already covered on the TREC 1-4 family under P4A1. We are of course not realtors and you should check with your attorney to ensure ... more
0 votes Share Flag Mon Jun 17, 2013 Home Selling in 76092
Chris Tesch, Real Estate Pro in College Station, TX
Chris Tesch answered:
Breach of Contract?
Dear Buyer,
You probably have grounds to sue for specific performance, however you won't get anywhere if they can't buy the house. You should be able to keep their earnest money at a ... more
0 votes Share Flag Sun May 11, 2008 Home Selling in Texas
Jim Rudoff, Other/Just Looking in San Francisco, CA
Jim Rudoff answered:
Contract Process questions?
I think you already have a better understanding of the process than you give yourself credit for. If your inspections turn up major problems that were not disclosed, then yes, the deal ... more
0 votes Share Flag Sat Mar 8, 2008 Home Buying in San Francisco, CA
Ute Ferdig -…, Real Estate Pro in New Castle, DE
Ute Ferdig - Atty. Negotiator answered:
"Short-Sale" or "REO" Listing Designation? Question to all Agents
Hi Michael. Yes, Metrolist has both, the short sale and REO designations, which makes it very easy to search for properties that were short sales and/or REOs. On the other hand, out N ... more
0 votes Share Flag Tue Feb 14, 2012 Foreclosure in Barrio Santa Rosa
Robert Kroon, Real Estate Pro in Phoenix, AZ
Robert Kroon answered:
are you able to sell a house for more than what it is appraised for?
Certainly. If you can find a buyer that is willing to pay more than the appraised price.....But.......why would anyone want to pay more than the appraised price????

Appraisals are f ... more
0 votes Share Flag Mon May 6, 2013 Home Buying in Dallas
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