If you were getting financing from a Lender/Bank, the institution would only lend you what the property appraised. Do you feel the home is worth $25k more? You did when you put the offer in. However, you did not have to have an appraisal and chose to anyway. How much weight do you give the appraisal? You could suggest the Seller have another appraisal done.
At the end of the day, you have to feel you paid a fair price.... more
There really isn't a single best place in the Bay Area. The whole market is very active so all the deals are pretty similar. You're trading off cash flow for appreciation. As for the best place for a deal, I'd say you would have your best chance with a broker who deals with off-market, distressed properties, if you qualify.... more
Location is always the first choice for value, better to be the small fish in a big pond, will return value when times comes to sell. Normally a good location also will dictate the quality of the schools. Again, better to go for a smaller house in a good location. It is a buyer's market, don't wait too long, the rates are always changing. Wishing you well,... more