If a home is listed at $75K above the asking price, wouldn't it be difficult to find a buyer, because the mortgage lender would reject a

Asked by J, Nashua, NH Sun Jun 6, 2010

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Christine Mo…, Agent, Wilbraham, MA
Sun Jun 6, 2010
It sounds like you mean it is priced over the tax est. value. Yes is could not appraise, but it could be renegotiated after the appraisal. Some towns are low, others are over priced. Get a good Realtor to help you price a good bid.
1 vote
Debra (Debbi…, Agent, Livingston, NJ
Sun Jun 6, 2010
J - just trying to clarify your question - and, expanding on what Robin asked - are you possibly saying the home has already been APPRAISED at an amount $75,000 less than the asking/listing price?

Clearly, you are referring either to an assessment or an appraisal.
The assessment would have no bearing on the list price, but a recent appraisal certainly will.

Please clarify - thanks!
0 votes
Robin Silver…, Mortgage Broker Or Lender, Garden City, NY
Sun Jun 6, 2010
Please explain your question, the listing price and the asking price should be the same thing. Are you possibly saying that the listing price is above the assessed value? This happens all the time because assessed value is not always up-to-date and the property could appraiser for more than assessed value.
0 votes
you would have to come up with a bigger down payment if the house doesn;t satisfy the mortgage apprasel in other words you would have to come up with the difference, between the apprasier price and the asking price but why would you do that because if the house listing price is way over the apprasel price the house isn;t worth the asking price
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