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 earnest money deposit back or proceed with the sale. In most cases the lender will not finance above the appraised value so the loan amount would be equal to the appraised value and you would need to make up the difference in cash. - Wed Jul 2 2008, 06:03
Yes, a short sale can have multiple offers. The bank has not approved or accepted your offer yet and therefore will consider all offers up to the time of their decision. - Sun Jun 8 2008, 12:30
I work for a company that lists homes all over the county for a flat fee of $489. If you don't mind doing some of the work yourself, like showings and negotiating. Yourigloo.com will list your home on the mls and Realtor.com for only $489. You would still offer a commission to a buyer agent if one is involved. Check out the website for more information. Hope this helps! - Wed Jan 16 2008, 08:22
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.