Asked by Deniz, West New York, NJ • Fri Jan 6, 2012
I am a first time home buyer. I put my offer on the appraised market value for the home, which was also the asking price. I sent my down payment and received Jan 30th closing date. About 2 weeks after I was informed that the deal might fall through, which it did. Apparently the seller couldn't get approval from their lender. Is this normal?
I feel like something fishy is going on. Even if they put the home back on the market, I had matched the appraisal value. In this market I would assume, especially a cash buyer, would not want to pay more than market price.
Any help & explanation would be greatly appreciated. Thank you!
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